Meridian Wealth Management LLC Reduces Stake in Pfizer Inc. $PFE

Meridian Wealth Management LLC lessened its stake in shares of Pfizer Inc. (NYSE:PFE) by 6.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,575 shares of the biopharmaceutical company’s stock after selling 4,981 shares during the quarter. Meridian Wealth Management LLC’s holdings in Pfizer were worth $1,885,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Pfizer by 7.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,394,368 shares of the biopharmaceutical company’s stock valued at $33,799,000 after acquiring an additional 98,400 shares in the last quarter. Empower Advisory Group LLC grew its position in shares of Pfizer by 9.7% during the 2nd quarter. Empower Advisory Group LLC now owns 4,848,235 shares of the biopharmaceutical company’s stock valued at $117,521,000 after purchasing an additional 429,110 shares in the last quarter. Foundations Investment Advisors LLC increased its holdings in shares of Pfizer by 1.4% in the second quarter. Foundations Investment Advisors LLC now owns 76,044 shares of the biopharmaceutical company’s stock worth $1,843,000 after purchasing an additional 1,081 shares during the period. CFO4Life Group LLC raised its position in shares of Pfizer by 2.8% in the second quarter. CFO4Life Group LLC now owns 26,041 shares of the biopharmaceutical company’s stock worth $631,000 after buying an additional 707 shares in the last quarter. Finally, Wrapmanager Inc. grew its position in Pfizer by 3.7% during the second quarter. Wrapmanager Inc. now owns 24,591 shares of the biopharmaceutical company’s stock worth $596,000 after buying an additional 885 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PFE shares. Sanford C. Bernstein reiterated a “market perform” rating and set a $30.00 price target on shares of Pfizer in a research report on Friday, October 31st. Citigroup lifted their target price on shares of Pfizer from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Wall Street Zen cut shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Sunday, September 28th. The Goldman Sachs Group restated a “neutral” rating and set a $26.00 price objective on shares of Pfizer in a research report on Wednesday, November 5th. Finally, UBS Group reaffirmed a “neutral” rating and set a $28.00 price objective on shares of Pfizer in a report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $28.28.

Pfizer Price Performance

Shares of NYSE:PFE opened at $25.08 on Friday. The company’s fifty day moving average is $24.80 and its 200 day moving average is $24.45. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $27.69. The stock has a market cap of $142.57 billion, a PE ratio of 13.34, a PEG ratio of 0.81 and a beta of 0.54.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, November 4th. The biopharmaceutical company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.79 by $0.08. The firm had revenue of $16.65 billion for the quarter, compared to the consensus estimate of $16.94 billion. Pfizer had a return on equity of 21.42% and a net margin of 16.84%. Pfizer has set its FY 2025 guidance at 3.000-3.150 EPS. Research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, November 7th. Pfizer’s payout ratio is presently 100.00%.

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.