Golden State Wealth Management LLC cut its position in Pfizer Inc. (NYSE:PFE – Get Rating) by 52.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,402 shares of the biopharmaceutical company’s stock after selling 13,525 shares during the period. Golden State Wealth Management LLC’s holdings in Pfizer were worth $642,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PFE. MAI Capital Management lifted its position in shares of Pfizer by 20.5% during the fourth quarter. MAI Capital Management now owns 247,444 shares of the biopharmaceutical company’s stock worth $14,612,000 after purchasing an additional 42,080 shares in the last quarter. Advisor Resource Council lifted its position in shares of Pfizer by 65.5% during the fourth quarter. Advisor Resource Council now owns 57,041 shares of the biopharmaceutical company’s stock worth $3,369,000 after purchasing an additional 22,572 shares in the last quarter. Ensign Peak Advisors Inc raised its stake in shares of Pfizer by 36.1% during the fourth quarter. Ensign Peak Advisors Inc now owns 6,699,905 shares of the biopharmaceutical company’s stock worth $395,629,000 after buying an additional 1,775,904 shares during the last quarter. Members Advisory Group LLC bought a new stake in shares of Pfizer during the fourth quarter worth approximately $211,000. Finally, Garrett Wealth Advisory Group LLC bought a new stake in shares of Pfizer during the fourth quarter worth approximately $238,000. 67.90% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
PFE has been the subject of a number of recent research reports. Morgan Stanley dropped their price target on shares of Pfizer from $52.00 to $49.00 and set an “equal weight” rating for the company in a research note on Friday, July 8th. UBS Group set a $59.00 price target on shares of Pfizer in a research note on Thursday, September 1st. SVB Leerink dropped their price target on shares of Pfizer from $55.00 to $53.00 and set a “market perform” rating for the company in a research note on Friday, July 29th. Berenberg Bank set a $44.00 price target on shares of Pfizer in a research note on Wednesday. Finally, JPMorgan Chase & Co. set a $57.00 target price on shares of Pfizer in a research note on Tuesday, June 28th. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.00.
Pfizer Stock Performance
Pfizer (NYSE:PFE – Get Rating) last announced its earnings results on Thursday, July 28th. The biopharmaceutical company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.95 by $0.09. Pfizer had a net margin of 28.92% and a return on equity of 43.18%. The business had revenue of $27.74 billion during the quarter, compared to analysts’ expectations of $26.20 billion. During the same quarter in the prior year, the company posted $1.07 earnings per share. The firm’s revenue was up 46.8% on a year-over-year basis. Research analysts forecast that Pfizer Inc. will post 6.54 EPS for the current fiscal year.
Pfizer Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Wednesday, June 29th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.47%. The ex-dividend date was Thursday, July 28th. Pfizer’s payout ratio is 31.31%.
Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and women's health under the Premarin family and Eliquis brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines, and oral COVID-19 treatment under the Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga, and Paxlovid brands.
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