Axxcess Wealth Management LLC Sells 8,171 Shares of Pfizer Inc. (NYSE:PFE)

Axxcess Wealth Management LLC lessened its position in Pfizer Inc. (NYSE:PFE) by 3.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 219,949 shares of the biopharmaceutical company’s stock after selling 8,171 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Pfizer were worth $6,154,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after buying an additional 11,099,024 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Pfizer by 3.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after purchasing an additional 2,241,609 shares during the period. Van ECK Associates Corp lifted its stake in Pfizer by 1.8% in the second quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after purchasing an additional 290,760 shares during the last quarter. Federated Hermes Inc. boosted its position in Pfizer by 3.3% during the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after buying an additional 470,003 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of Pfizer by 2.4% during the second quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock valued at $287,077,000 after buying an additional 238,850 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PFE shares. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company increased their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group lifted their target price 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. Finally, Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Stock Performance

Pfizer stock opened at $30.07 on Tuesday. 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 $170.40 billion, a price-to-earnings ratio of -501.08, a PEG ratio of 1.02 and a beta of 0.68. The stock’s 50 day simple moving average is $29.26 and its two-hundred day simple moving average is $28.15. 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 posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $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 declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 5.59%. Pfizer’s dividend payout ratio (DPR) is currently -2,799.53%.

About Pfizer

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.