CCG Wealth Management LLC Sells 378 Shares of Pfizer Inc. (NYSE:PFE)

CCG Wealth Management LLC decreased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 4.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 7,702 shares of the biopharmaceutical company’s stock after selling 378 shares during the period. CCG Wealth Management LLC’s holdings in Pfizer were worth $223,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in PFE. LGT Group Foundation grew its holdings in shares of Pfizer by 2.5% in the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock valued at $20,786,000 after buying an additional 18,274 shares during the period. ORG Partners LLC grew its holdings in shares of Pfizer by 1,729.9% in the 2nd quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock valued at $1,327,000 after buying an additional 44,458 shares during the period. Kempner Capital Management Inc. acquired a new position in shares of Pfizer in the 1st quarter valued at $2,439,000. Commerzbank Aktiengesellschaft FI grew its holdings in shares of Pfizer by 29.1% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 342,361 shares of the biopharmaceutical company’s stock valued at $9,579,000 after buying an additional 77,073 shares during the period. Finally, First Foundation Advisors boosted its stake in Pfizer by 15.3% in the 1st quarter. First Foundation Advisors now owns 155,951 shares of the biopharmaceutical company’s stock worth $4,328,000 after purchasing an additional 20,670 shares during the period. Institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PFE shares. Barclays upped their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. UBS Group upped their target price on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Wells Fargo & Company upped their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Up 1.3 %

Shares of PFE stock opened at $29.46 on Wednesday. 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’s 50-day moving average is $29.02 and its 200-day moving average is $28.41. The stock has a market cap of $166.94 billion, a price-to-earnings ratio of -491.00, a PEG ratio of 1.30 and a beta of 0.67. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $33.92.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Pfizer’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 EPS. Sell-side analysts predict that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.70%. Pfizer’s payout ratio is -2,800.00%.

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.