Fairhaven Wealth Management LLC Decreases Stock Position in Pfizer Inc. (NYSE:PFE)

Fairhaven Wealth Management LLC lessened its stake in Pfizer Inc. (NYSE:PFE) by 20.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,300 shares of the biopharmaceutical company’s stock after selling 2,188 shares during the quarter. Fairhaven Wealth Management LLC’s holdings in Pfizer were worth $230,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PFE. Teza Capital Management LLC acquired a new position in shares of Pfizer in the 3rd quarter valued at approximately $347,000. Royal London Asset Management Ltd. raised its position in shares of Pfizer by 5.1% in the 3rd quarter. Royal London Asset Management Ltd. now owns 2,313,310 shares of the biopharmaceutical company’s stock valued at $76,744,000 after purchasing an additional 113,175 shares in the last quarter. Industrial Alliance Investment Management Inc. raised its position in shares of Pfizer by 133.5% in the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 12,188 shares of the biopharmaceutical company’s stock valued at $404,000 after purchasing an additional 6,968 shares in the last quarter. Cito Capital Group LLC raised its position in shares of Pfizer by 3.8% in the 3rd quarter. Cito Capital Group LLC now owns 40,500 shares of the biopharmaceutical company’s stock valued at $1,343,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Baker Avenue Asset Management LP raised its position in shares of Pfizer by 5.9% during the 3rd quarter. Baker Avenue Asset Management LP now owns 33,916 shares of the biopharmaceutical company’s stock valued at $1,125,000 after acquiring an additional 1,876 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PFE. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday, June 26th. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Morgan Stanley upped their price target on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Finally, BMO Capital Markets reissued an “outperform” rating and set a $36.00 price target (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $35.54.

Pfizer Stock Performance

Shares of PFE traded up $0.35 during trading hours on Friday, reaching $28.05. 17,268,657 shares of the company’s stock traded hands, compared to its average volume of 27,585,572. The firm has a market capitalization of $158.95 billion, a price-to-earnings ratio of -467.42, a P/E/G ratio of 1.09 and a beta of 0.69. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $37.80. The business’s fifty day simple moving average is $28.09 and its two-hundred day simple moving average is $27.72.

Pfizer (NYSE:PFE) last released its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The firm had revenue of $14.88 billion for the quarter, compared to analyst estimates of $13.87 billion. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. Pfizer’s revenue was down 19.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.23 earnings per share. Analysts predict that Pfizer Inc. will post 2.38 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.99%. The ex-dividend date of this dividend is Thursday, July 25th. Pfizer’s payout ratio is currently -2,799.53%.

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.