Oppenheimer Asset Management Inc. Cuts Stake in Pfizer Inc. (NYSE:PFE)

Oppenheimer Asset Management Inc. trimmed its position in Pfizer Inc. (NYSE:PFE) by 3.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 300,992 shares of the biopharmaceutical company’s stock after selling 11,660 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Pfizer were worth $8,353,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. GoalVest Advisory LLC boosted its stake in shares of 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 acquiring an additional 811 shares during the last quarter. Creekmur Asset Management LLC purchased a new position in Pfizer in the 4th quarter valued at $32,000. Trivant Custom Portfolio Group LLC boosted 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 worth $33,000 after purchasing an additional 600 shares during the last quarter. VisionPoint Advisory Group LLC grew its holdings 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 worth $35,000 after buying an additional 1,047 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of Pfizer in the fourth quarter valued at about $36,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Trading Up 0.9 %

PFE stock traded up $0.26 during mid-day trading on Friday, hitting $28.92. 28,396,983 shares of the company were exchanged, compared to its average volume of 27,409,562. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $37.80. The firm has a market capitalization of $163.88 billion, a P/E ratio of -481.92, a PEG ratio of 1.12 and a beta of 0.69. The business has a fifty day simple moving average of $28.25 and a 200-day simple moving average of $27.72. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The firm had revenue of $14.88 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The firm’s quarterly revenue was down 19.5% on a year-over-year basis. During the same quarter last year, the company posted $1.23 EPS. On average, equities research analysts predict that Pfizer Inc. will post 2.38 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be paid a $0.42 dividend. The ex-dividend date is Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.81%. Pfizer’s payout ratio is presently -2,799.53%.

Analysts Set New Price Targets

A number of research firms recently weighed in on PFE. Morgan Stanley boosted their price target on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Wednesday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $36.00 price target (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Barclays boosted their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Argus lowered Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $35.69.

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.