Beacon Financial Group Decreases Stake in Pfizer Inc. (NYSE:PFE)

Beacon Financial Group lessened its stake in shares of Pfizer Inc. (NYSE:PFE) by 6.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 146,523 shares of the biopharmaceutical company’s stock after selling 10,711 shares during the period. Beacon Financial Group’s holdings in Pfizer were worth $3,713,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Rialto Wealth Management LLC acquired a new position in shares of Pfizer in the 4th quarter valued at $26,000. Clarity Asset Management Inc. acquired a new position in shares of Pfizer in the fourth quarter valued at about $27,000. Gould Capital LLC increased its holdings in shares of Pfizer by 97.2% in the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 493 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Pfizer in the fourth quarter worth about $28,000. Finally, Bernard Wealth Management Corp. acquired a new stake in shares of Pfizer during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of PFE opened at $23.42 on Thursday. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $31.54. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The firm has a market cap of $133.15 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 0.64 and a beta of 0.58. The stock has a 50 day moving average of $23.02 and a 200-day moving average of $25.02.

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

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 7.34%. The ex-dividend date of this dividend is Friday, May 9th. Pfizer’s dividend payout ratio (DPR) is 124.64%.

Analysts Set New Price Targets

Several brokerages have commented on PFE. The Goldman Sachs Group restated a “neutral” rating and set a $25.00 price objective (down from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a report on Monday, March 10th. Citigroup reaffirmed a “neutral” rating on shares of Pfizer in a report on Thursday, March 27th. UBS Group increased their price target on Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Finally, Guggenheim reissued a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.17.

Pfizer Company 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.