Pfizer Inc. (NYSE:PFE) Shares Sold by Portside Wealth Group LLC

Portside Wealth Group LLC reduced its position in Pfizer Inc. (NYSE:PFE) by 3.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,172 shares of the biopharmaceutical company’s stock after selling 2,153 shares during the period. Portside Wealth Group LLC’s holdings in Pfizer were worth $1,411,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. D Orazio & Associates Inc. boosted its holdings in Pfizer by 5.5% in the 4th quarter. D Orazio & Associates Inc. now owns 7,549 shares of the biopharmaceutical company’s stock worth $200,000 after buying an additional 391 shares during the period. Lipe & Dalton boosted its stake in shares of Pfizer by 17.7% in the fourth quarter. Lipe & Dalton now owns 2,659 shares of the biopharmaceutical company’s stock worth $71,000 after acquiring an additional 400 shares during the period. Beam Wealth Advisors Inc. grew its position in shares of Pfizer by 1.5% during the fourth quarter. Beam Wealth Advisors Inc. now owns 27,444 shares of the biopharmaceutical company’s stock worth $728,000 after purchasing an additional 401 shares in the last quarter. Providence Capital Advisors LLC lifted its holdings in Pfizer by 0.4% in the 4th quarter. Providence Capital Advisors LLC now owns 114,358 shares of the biopharmaceutical company’s stock worth $3,034,000 after purchasing an additional 409 shares in the last quarter. Finally, Donaldson Capital Management LLC boosted its stake in Pfizer by 1.2% in the 4th quarter. Donaldson Capital Management LLC now owns 35,694 shares of the biopharmaceutical company’s stock worth $947,000 after purchasing an additional 410 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PFE. Guggenheim reissued a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. Hsbc Global Res upgraded Pfizer to a “strong-buy” rating in a report on Monday, March 10th. Cantor Fitzgerald initiated coverage on Pfizer in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 target price for the company. UBS Group boosted their price target on shares of Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $25.00 price objective (down previously from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.17.

Pfizer Trading Down 0.4%

NYSE PFE opened at $23.37 on Wednesday. The stock has a market cap of $132.85 billion, a PE ratio of 16.57, a PEG ratio of 0.64 and a beta of 0.58. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $31.54. The company’s 50-day moving average price is $23.05 and its 200-day moving average price is $25.03. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.25. The firm had revenue of $13.72 billion during the quarter, compared to the consensus estimate of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The company’s revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 earnings per share. Equities research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 9th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.36%. Pfizer’s dividend payout ratio is presently 124.64%.

Pfizer Profile

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.