Cornerstone Advisory LLC Trims Stock Position in Pfizer Inc. (NYSE:PFE)

Cornerstone Advisory LLC lessened its position in shares of Pfizer Inc. (NYSE:PFE) by 20.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,316 shares of the biopharmaceutical company’s stock after selling 2,724 shares during the quarter. Cornerstone Advisory LLC’s holdings in Pfizer were worth $261,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Providence Wealth Advisors LLC raised its position in Pfizer by 2.1% in the first quarter. Providence Wealth Advisors LLC now owns 42,217 shares of the biopharmaceutical company’s stock valued at $1,039,000 after purchasing an additional 874 shares during the period. Bedel Financial Consulting Inc. raised its position in Pfizer by 5.6% in the first quarter. Bedel Financial Consulting Inc. now owns 36,774 shares of the biopharmaceutical company’s stock valued at $932,000 after purchasing an additional 1,950 shares during the period. Intellus Advisors LLC purchased a new stake in Pfizer in the first quarter valued at approximately $792,000. Empirical Finance LLC raised its position in Pfizer by 1.4% in the first quarter. Empirical Finance LLC now owns 196,019 shares of the biopharmaceutical company’s stock valued at $4,967,000 after purchasing an additional 2,671 shares during the period. Finally, Valley Wealth Managers Inc. raised its position in Pfizer by 44.9% in the first quarter. Valley Wealth Managers Inc. now owns 781,790 shares of the biopharmaceutical company’s stock valued at $19,811,000 after purchasing an additional 242,296 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

Shares of PFE stock opened at $24.79 on Monday. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $31.54. The company has a market cap of $140.91 billion, a P/E ratio of 17.96, a PEG ratio of 0.90 and a beta of 0.58. The firm has a fifty day moving average price of $24.30 and a 200 day moving average price of $24.65.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The company had revenue of $13.72 billion during the quarter, compared to the consensus estimate of $14.43 billion. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Pfizer’s revenue for the quarter was down 7.8% on a year-over-year basis. Sell-side analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 annualized dividend and a yield of 6.94%. Pfizer’s dividend payout ratio is presently 124.64%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PFE shares. Citigroup boosted their target price on Pfizer from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Wolfe Research boosted their price target on shares of Pfizer from $22.00 to $23.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 30th. Leerink Partners dropped their price target on shares of Pfizer from $28.00 to $26.00 and set a “market perform” rating for the company in a research note on Wednesday, April 30th. Jefferies Financial Group boosted their price target on shares of Pfizer from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Wednesday, May 21st. Finally, HSBC dropped their price target on shares of Pfizer from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $28.55.

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.