Meeder Asset Management Inc. Sells 49,576 Shares of Pfizer Inc. (NYSE:PFE)

Meeder Asset Management Inc. decreased its position in shares of Pfizer Inc. (NYSE:PFE) by 90.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,061 shares of the biopharmaceutical company’s stock after selling 49,576 shares during the period. Meeder Asset Management Inc.’s holdings in Pfizer were worth $142,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PFE. Olistico Wealth LLC purchased a new position in shares of Pfizer during the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC bought a new position in shares of Pfizer in the second quarter worth about $29,000. Creekmur Asset Management LLC bought a new stake in Pfizer during the 4th quarter valued at approximately $32,000. Trivant Custom Portfolio Group LLC raised its stake in Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 600 shares during the period. Finally, Financial Connections Group Inc. bought a new position in Pfizer in the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Up 0.4 %

NYSE:PFE opened at $29.27 on Friday. The stock has a fifty day simple moving average of $29.21 and a 200-day simple moving average of $28.11. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The company has a market cap of $165.86 billion, a price-to-earnings ratio of -487.75, a price-to-earnings-growth ratio of 1.04 and a beta of 0.68. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $34.42.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.14. The company had revenue of $13.28 billion during 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 firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 EPS. Analysts anticipate that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.74%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PFE. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Monday, September 9th. Barclays boosted their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company boosted their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating 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. Based on data from MarketBeat.com, the stock has an average 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.