Pfizer Inc. (NYSE:PFE) Shares Sold by Occidental Asset Management LLC

Occidental Asset Management LLC lessened its stake in Pfizer Inc. (NYSE:PFE) by 71.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,360 shares of the biopharmaceutical company’s stock after selling 28,153 shares during the period. Occidental Asset Management LLC’s holdings in Pfizer were worth $417,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Buckley Wealth Management LLC boosted its holdings in Pfizer by 2.3% in the 2nd quarter. Buckley Wealth Management LLC now owns 166,495 shares of the biopharmaceutical company’s stock valued at $6,107,000 after purchasing an additional 3,770 shares in the last quarter. Atlantic Union Bankshares Corp raised its stake in shares of Pfizer by 22.4% during the 2nd quarter. Atlantic Union Bankshares Corp now owns 128,813 shares of the biopharmaceutical company’s stock worth $4,725,000 after buying an additional 23,607 shares in the last quarter. Selective Wealth Management Inc. purchased a new position in shares of Pfizer during the 2nd quarter worth approximately $257,000. Keystone Financial Planning Inc. raised its stake in shares of Pfizer by 6.5% during the 2nd quarter. Keystone Financial Planning Inc. now owns 232,246 shares of the biopharmaceutical company’s stock worth $8,519,000 after buying an additional 14,231 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in shares of Pfizer during the 2nd quarter worth approximately $1,082,000. 68.05% of the stock is owned by hedge funds and other institutional investors.

Pfizer Price Performance

Shares of NYSE:PFE opened at $33.64 on Tuesday. The business’s fifty day moving average price is $35.80 and its two-hundred day moving average price is $37.96. The stock has a market cap of $189.93 billion, a PE ratio of 8.95, a price-to-earnings-growth ratio of 1.14 and a beta of 0.59. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.82 and a current ratio of 2.12. Pfizer Inc. has a one year low of $33.44 and a one year high of $54.93.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Pfizer had a return on equity of 28.36% and a net margin of 27.55%. The company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $13.36 billion. During the same quarter in the prior year, the company posted $2.04 EPS. The business’s revenue for the quarter was down 54.1% compared to the same quarter last year. On average, analysts forecast that Pfizer Inc. will post 3.33 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Friday, July 28th were given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend was Thursday, July 27th. Pfizer’s dividend payout ratio (DPR) is currently 43.62%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PFE shares. StockNews.com started coverage on Pfizer in a research note on Thursday, August 17th. They set a “hold” rating for the company. Jefferies Financial Group cut their target price on Pfizer from $40.00 to $38.00 in a research note on Wednesday, August 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $75.00 price target on shares of Pfizer in a report on Monday. Barclays lowered their price target on Pfizer from $40.00 to $38.00 in a report on Tuesday, July 11th. Finally, BMO Capital Markets lowered their price target on Pfizer from $45.00 to $44.00 and set an “outperform” rating on the stock in a report on Wednesday, August 2nd. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $46.35.

Pfizer Company Profile

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, 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.