WealthPLAN Partners LLC Sells 2,582 Shares of Pfizer Inc. (NYSE:PFE)

WealthPLAN Partners LLC cut its position in shares of Pfizer Inc. (NYSE:PFE) by 25.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,584 shares of the biopharmaceutical company’s stock after selling 2,582 shares during the quarter. WealthPLAN Partners LLC’s holdings in Pfizer were worth $212,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PFE. Olistico Wealth LLC purchased a new position in shares of Pfizer during the second quarter worth approximately $25,000. MFA Wealth Advisors LLC purchased a new position in Pfizer in the 2nd quarter worth $29,000. Creekmur Asset Management LLC bought a new stake in Pfizer in the fourth quarter worth $32,000. Trivant Custom Portfolio Group LLC lifted its stake in Pfizer by 100.0% in the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares during the last quarter. Finally, Financial Connections Group Inc. bought a new position in shares of Pfizer during the second quarter valued at about $34,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PFE has been the subject of a number of recent research reports. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Monday. UBS Group increased their price target on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company boosted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Eight 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Performance

Pfizer stock opened at $29.83 on Wednesday. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $34.12. The stock has a market cap of $169.04 billion, a price-to-earnings ratio of -497.08, a PEG ratio of 1.02 and a beta of 0.68. The stock’s 50 day simple moving average is $29.30 and its two-hundred day simple moving average is $28.18. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86.

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

Pfizer Dividend Announcement

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

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.