Prestige Wealth Management Group LLC Sells 2,190 Shares of Pfizer Inc. (NYSE:PFE)

Prestige Wealth Management Group LLC trimmed its position in Pfizer Inc. (NYSE:PFE) by 19.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,148 shares of the biopharmaceutical company’s stock after selling 2,190 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Pfizer were worth $256,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PFE. Olistico Wealth LLC acquired a new position in shares of Pfizer during the 2nd quarter worth $25,000. MFA Wealth Advisors LLC acquired a new position in Pfizer during the second quarter worth about $29,000. Creekmur Asset Management LLC bought a new position in shares of Pfizer in the fourth quarter worth about $32,000. Trivant Custom Portfolio Group LLC boosted its stake in shares of Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 600 shares in the last quarter. Finally, Financial Connections Group Inc. bought a new stake in shares of Pfizer during the 2nd quarter valued at approximately $34,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PFE shares. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. UBS Group lifted their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Wells Fargo & Company upped their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Monday, August 19th. Finally, StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Up 0.2 %

PFE traded up $0.05 during midday trading on Friday, hitting $28.56. The company had a trading volume of 31,214,484 shares, compared to its average volume of 38,328,773. The stock’s 50 day moving average price is $29.06 and its 200 day moving average price is $28.05. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $34.64. The company has a market capitalization of $161.84 billion, a price-to-earnings ratio of -476.00, a PEG ratio of 1.02 and a beta of 0.68. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion during 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% compared to the same quarter last year. During the same period in the previous year, the company posted $0.67 EPS. On average, research analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.88%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s payout ratio is presently -2,800.00%.

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.