Prime Capital Investment Advisors LLC Sells 52,320 Shares of Pfizer Inc. (NYSE:PFE)

Prime Capital Investment Advisors LLC lessened its holdings in shares of Pfizer Inc. (NYSE:PFE) by 22.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,045 shares of the biopharmaceutical company’s stock after selling 52,320 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Pfizer were worth $5,010,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in shares of Pfizer in the fourth quarter valued at approximately $16,166,000. LGT Group Foundation lifted its position in Pfizer by 2.5% in the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock valued at $20,786,000 after acquiring an additional 18,274 shares in the last quarter. ORG Partners LLC boosted its stake in Pfizer by 1,729.9% in the 2nd quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock worth $1,327,000 after purchasing an additional 44,458 shares during the period. Kempner Capital Management Inc. bought a new position in Pfizer during the 1st quarter worth about $2,439,000. Finally, Leo Wealth LLC acquired a new stake in shares of Pfizer in the 4th quarter valued at about $2,171,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. UBS Group raised their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Monday, September 9th. Finally, Barclays boosted their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Price Performance

NYSE:PFE opened at $29.27 on Monday. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $34.42. The stock’s 50 day moving average price is $29.21 and its two-hundred day moving average price is $28.13. The firm has a market capitalization of $165.86 billion, a price-to-earnings ratio of -487.83, a P/E/G ratio of 1.04 and a beta of 0.68.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter in the prior year, the business earned $0.67 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were paid 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 (DPR) is currently -2,800.00%.

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.