Pekin Hardy Strauss Inc. Sells 37,458 Shares of Pfizer Inc. (NYSE:PFE)

Pekin Hardy Strauss Inc. reduced its stake in shares of Pfizer Inc. (NYSE:PFE) by 58.9% during the 4th quarter, HoldingsChannel reports. The fund owned 26,166 shares of the biopharmaceutical company’s stock after selling 37,458 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Pfizer were worth $753,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PFE. Briaud Financial Planning Inc purchased a new position in shares of Pfizer during the 3rd quarter worth about $30,000. GoalVest Advisory LLC lifted its stake in Pfizer by 304.9% in the fourth quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 811 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new position in shares of Pfizer during the third quarter valued at approximately $34,000. VisionPoint Advisory Group LLC grew its stake in shares of Pfizer by 52,350.0% during the third quarter. VisionPoint Advisory Group LLC now owns 1,049 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 1,047 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of Pfizer in the fourth quarter worth approximately $36,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. TD Cowen lowered Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price target for the company. in a report on Thursday, January 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Monday, April 15th. Finally, Guggenheim assumed coverage on shares of Pfizer in a research note on Friday, February 23rd. They issued a “buy” rating and a $36.00 price objective for the company. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $36.33.

Pfizer Stock Performance

Shares of PFE stock opened at $25.61 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. The company has a market cap of $145.02 billion, a PE ratio of 71.14, a PEG ratio of 1.16 and a beta of 0.61. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $40.37. The business’s fifty day simple moving average is $26.88 and its 200-day simple moving average is $28.26.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.29. The company had revenue of $14.25 billion for the quarter, compared to analyst estimates of $14.37 billion. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. The firm’s quarterly revenue was down 41.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.14 EPS. Analysts expect that Pfizer Inc. will post 2.24 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.42 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.68 annualized dividend and a dividend yield of 6.56%. Pfizer’s dividend payout ratio (DPR) is currently 466.67%.

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.