Synergy Asset Management LLC Sells 59,067 Shares of Pfizer Inc. (NYSE:PFE)

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

A number of other institutional investors and hedge funds also recently modified their holdings of PFE. Gilbert & Cook Inc. boosted its stake in Pfizer by 3.8% in the fourth quarter. Gilbert & Cook Inc. now owns 25,651 shares of the biopharmaceutical company’s stock valued at $738,000 after acquiring an additional 945 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in Pfizer by 3.1% during the fourth quarter. Los Angeles Capital Management LLC now owns 29,864 shares of the biopharmaceutical company’s stock valued at $860,000 after purchasing an additional 899 shares during the period. Gryphon Financial Partners LLC increased its position in Pfizer by 43.7% in the fourth quarter. Gryphon Financial Partners LLC now owns 26,942 shares of the biopharmaceutical company’s stock worth $861,000 after buying an additional 8,194 shares during the last quarter. E Fund Management Co. Ltd. raised its stake in shares of Pfizer by 22.0% in the fourth quarter. E Fund Management Co. Ltd. now owns 13,922 shares of the biopharmaceutical company’s stock valued at $401,000 after buying an additional 2,514 shares during the period. Finally, Principal Securities Inc. purchased a new position in shares of Pfizer during the 4th quarter valued at $2,393,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Price Performance

NYSE PFE traded up $0.19 during trading on Friday, reaching $28.70. The company’s stock had a trading volume of 1,958,659 shares, compared to its average volume of 38,158,805. The firm has a fifty day moving average of $29.05 and a 200 day moving average of $28.04. Pfizer Inc. has a one year low of $25.20 and a one year high of $34.64. The stock has a market capitalization of $162.63 billion, a PE ratio of -475.09, a P/E/G ratio of 1.02 and a beta of 0.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same period in the prior year, the business earned $0.67 earnings per share. Pfizer’s revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts expect that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.85%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s dividend payout ratio is currently -2,799.53%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PFE. UBS Group boosted their price objective on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Barclays boosted 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 reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Monday, August 19th. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.54.

About Pfizer

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.