Synergy Asset Management LLC Cuts Stake in Pfizer Inc. (NYSE:PFE)

Synergy Asset Management LLC cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 26.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 164,417 shares of the biopharmaceutical company’s stock after selling 59,067 shares during the quarter. Synergy Asset Management LLC’s holdings in Pfizer were worth $4,600,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Jeppson Wealth Management LLC grew its stake in shares of Pfizer by 3.3% during the second quarter. Jeppson Wealth Management LLC now owns 31,660 shares of the biopharmaceutical company’s stock valued at $886,000 after buying an additional 1,025 shares during the last quarter. Hourglass Capital LLC lifted its stake in shares of Pfizer by 2.0% in the 2nd quarter. Hourglass Capital LLC now owns 287,310 shares of the biopharmaceutical company’s stock valued at $8,039,000 after acquiring an additional 5,750 shares during the last quarter. Arizona State Retirement System boosted its holdings in Pfizer by 1.0% during the 2nd quarter. Arizona State Retirement System now owns 1,637,035 shares of the biopharmaceutical company’s stock valued at $45,804,000 after acquiring an additional 16,705 shares during the period. Childress Capital Advisors LLC grew its position in Pfizer by 171.5% during the 2nd quarter. Childress Capital Advisors LLC now owns 45,933 shares of the biopharmaceutical company’s stock worth $1,285,000 after acquiring an additional 29,017 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Pfizer by 0.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,343,087 shares of the biopharmaceutical company’s stock worth $121,520,000 after purchasing an additional 29,786 shares during the period. 68.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Barclays increased their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Monday, August 19th. UBS Group upped their price objective on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Stock Up 0.7 %

Pfizer stock traded up $0.19 during trading hours on Friday, hitting $28.70. 1,958,659 shares of the stock traded hands, compared to its average volume of 38,158,805. Pfizer Inc. has a one year low of $25.20 and a one year high of $34.64. The company has a market cap of $162.63 billion, a PE ratio of -475.09, a PEG ratio of 1.02 and a beta of 0.68. The firm’s 50-day moving average price is $29.05 and its two-hundred day moving average price is $28.04. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. The company had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 earnings per share. On average, research analysts forecast that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were paid a $0.42 dividend. The ex-dividend date was Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 5.85%. Pfizer’s payout ratio is -2,799.53%.

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.