Prestige Wealth Management Group LLC Has $256,000 Position in Pfizer Inc. (NYSE:PFE)

Prestige Wealth Management Group LLC lessened its position in Pfizer Inc. (NYSE:PFE) by 19.3% during the second quarter, according to the company in its most recent 13F filing with the 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 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in Pfizer during the fourth quarter worth about $2,129,927,000. Wellington Management Group LLP raised its stake in shares of Pfizer by 4.9% during the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after purchasing an additional 11,099,024 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Pfizer by 13.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after buying an additional 8,298,920 shares during the last quarter. Swedbank AB bought a new position in shares of Pfizer in the first quarter valued at $172,902,000. Finally, Pzena Investment Management LLC increased its holdings in Pfizer by 181.6% during the first quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock worth $212,855,000 after buying an additional 4,947,000 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

NYSE:PFE traded up $0.05 during mid-day trading on Friday, reaching $28.56. 31,214,484 shares of the company’s stock were exchanged, compared to its average volume of 38,328,773. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The firm has a market capitalization of $161.84 billion, a PE ratio of -476.00, a price-to-earnings-growth ratio of 1.02 and a beta of 0.68. Pfizer Inc. has a one year low of $25.20 and a one year high of $34.64. The business’s fifty day simple moving average is $29.06 and its two-hundred day simple moving average is $28.05.

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

Pfizer Announces Dividend

The business 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. The ex-dividend date was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.88%. Pfizer’s payout ratio is -2,800.00%.

Analyst Ratings Changes

PFE has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. UBS Group upped 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. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and increased their price target for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer 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.