Formidable Asset Management LLC Sells 507 Shares of Pfizer Inc. (NYSE:PFE)

Formidable Asset Management LLC cut its position in Pfizer Inc. (NYSE:PFE) by 0.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,590 shares of the biopharmaceutical company’s stock after selling 507 shares during the quarter. Formidable Asset Management LLC’s holdings in Pfizer were worth $1,554,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PFE. Tallon Kerry Patrick bought a new stake in shares of Pfizer during the 4th quarter worth $509,000. Secure Asset Management LLC lifted its position in shares of Pfizer by 32.0% during the 4th quarter. Secure Asset Management LLC now owns 87,874 shares of the biopharmaceutical company’s stock worth $2,331,000 after buying an additional 21,294 shares during the last quarter. Hengehold Capital Management LLC lifted its position in shares of Pfizer by 1.7% during the 4th quarter. Hengehold Capital Management LLC now owns 119,846 shares of the biopharmaceutical company’s stock worth $3,180,000 after buying an additional 2,043 shares during the last quarter. Brighton Jones LLC lifted its position in shares of Pfizer by 1,282.4% during the 4th quarter. Brighton Jones LLC now owns 666,318 shares of the biopharmaceutical company’s stock worth $17,677,000 after buying an additional 618,117 shares during the last quarter. Finally, Cornerstone Wealth Management LLC lifted its position in shares of Pfizer by 5.7% during the 4th quarter. Cornerstone Wealth Management LLC now owns 82,391 shares of the biopharmaceutical company’s stock worth $2,186,000 after buying an additional 4,479 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors.

Pfizer Stock Up 1.3%

Shares of Pfizer stock opened at $23.33 on Friday. Pfizer Inc. has a one year low of $20.92 and a one year high of $31.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The stock’s 50-day moving average is $23.38 and its 200 day moving average is $25.19. The firm has a market cap of $132.66 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 0.64 and a beta of 0.58.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.25. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The business had revenue of $13.72 billion for the quarter, compared to analyst estimates of $14.43 billion. During the same quarter in the prior year, the company earned $0.82 earnings per share. The company’s quarterly revenue was down 7.8% on a year-over-year basis. Equities research analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 9th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.37%. The ex-dividend date is Friday, May 9th. Pfizer’s payout ratio is 124.64%.

Analysts Set New Price Targets

PFE has been the subject of a number of recent research reports. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. The Goldman Sachs Group reissued a “neutral” rating and issued a $25.00 price target (down previously from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. Hsbc Global Res raised Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. Cantor Fitzgerald started coverage on Pfizer in a research note on Tuesday, April 22nd. They issued a “neutral” rating and a $24.00 price target for the company. Finally, UBS Group increased their price target on Pfizer from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.17.

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.