Wealth Alliance Trims Stake in Pfizer Inc. (NYSE:PFE)

Wealth Alliance lowered its stake in Pfizer Inc. (NYSE:PFE) by 4.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,760 shares of the biopharmaceutical company’s stock after selling 2,478 shares during the quarter. Wealth Alliance’s holdings in Pfizer were worth $1,392,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PFE. Olistico Wealth LLC purchased a new stake in Pfizer in the 2nd quarter valued at approximately $25,000. MFA Wealth Advisors LLC acquired a new position in Pfizer in the 2nd quarter valued at $29,000. Creekmur Asset Management LLC acquired a new position in Pfizer in the 4th quarter valued at $32,000. Trivant Custom Portfolio Group LLC raised its holdings in Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 600 shares during the last quarter. Finally, Financial Connections Group Inc. acquired a new position in Pfizer in the 2nd quarter valued at $34,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Down 0.8 %

Shares of Pfizer stock opened at $29.83 on Wednesday. The company has a fifty day moving average price of $29.30 and a 200 day moving average price of $28.18. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $34.12. The stock has a market cap of $169.04 billion, a price-to-earnings ratio of -497.08, a price-to-earnings-growth ratio of 1.02 and a beta of 0.68.

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

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were given a $0.42 dividend. The ex-dividend date was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 5.63%. Pfizer’s payout ratio is currently -2,799.53%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PFE. Wells Fargo & Company boosted their price target on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. UBS Group boosted their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Barclays upped their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Company 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.