Mystic Asset Management Inc. Sells 767 Shares of Pfizer Inc. (NYSE:PFE)

Mystic Asset Management Inc. reduced its stake in Pfizer Inc. (NYSE:PFE) by 1.0% during the second quarter, Holdings Channel.com reports. The firm owned 76,271 shares of the biopharmaceutical company’s stock after selling 767 shares during the quarter. Mystic Asset Management Inc.’s holdings in Pfizer were worth $2,134,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of PFE. Olistico Wealth LLC purchased a new position in shares of Pfizer during the 2nd quarter valued at about $25,000. MFA Wealth Advisors LLC bought a new stake in Pfizer during the 2nd quarter worth approximately $29,000. Creekmur Asset Management LLC purchased a new position in Pfizer during the fourth quarter valued at approximately $32,000. Trivant Custom Portfolio Group LLC boosted its position in shares of 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 period. Finally, Financial Connections Group Inc. bought a new stake in shares of Pfizer during the 2nd quarter valued at $34,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Price Performance

PFE stock opened at $29.27 on Friday. The company has a fifty day simple moving average of $29.21 and a two-hundred day simple moving average of $28.12. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $34.42. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $165.86 billion, a P/E ratio of -487.75, a price-to-earnings-growth ratio of 1.04 and a beta of 0.68.

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

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 5.74%. Pfizer’s dividend payout ratio is presently -2,799.53%.

Analyst Ratings Changes

Several brokerages recently weighed in on PFE. Wells Fargo & Company upped their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Barclays increased 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. UBS Group boosted their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and a consensus target price 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.