Prentice Wealth Management LLC Sells 6,416 Shares of Pfizer Inc. $PFE

Prentice Wealth Management LLC trimmed its position in Pfizer Inc. (NYSE:PFE) by 35.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,451 shares of the biopharmaceutical company’s stock after selling 6,416 shares during the period. Prentice Wealth Management LLC’s holdings in Pfizer were worth $278,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bessemer Group Inc. increased its position in Pfizer by 11.1% in the 1st quarter. Bessemer Group Inc. now owns 132,478 shares of the biopharmaceutical company’s stock valued at $3,358,000 after buying an additional 13,228 shares in the last quarter. Capital Advisors Inc. OK increased its position in Pfizer by 1.2% in the 1st quarter. Capital Advisors Inc. OK now owns 1,413,472 shares of the biopharmaceutical company’s stock valued at $35,817,000 after buying an additional 17,032 shares in the last quarter. CHURCHILL MANAGEMENT Corp bought a new stake in Pfizer in the 1st quarter valued at about $8,283,000. Westbourne Investments Inc. acquired a new position in Pfizer during the 1st quarter valued at about $2,411,000. Finally, Bourne Lent Asset Management Inc. boosted its stake in Pfizer by 90.8% during the 2nd quarter. Bourne Lent Asset Management Inc. now owns 38,255 shares of the biopharmaceutical company’s stock valued at $927,000 after purchasing an additional 18,200 shares during the last quarter. 68.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on PFE. UBS Group reiterated a “neutral” rating and set a $28.00 price target on shares of Pfizer in a research note on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Pfizer in a research note on Wednesday, October 8th. Wall Street Zen downgraded Pfizer from a “buy” rating to a “hold” rating in a research note on Sunday, September 28th. Morgan Stanley cut their price target on Pfizer from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Friday, October 10th. Finally, Bank of America lifted their price target on Pfizer from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $28.13.

Pfizer Price Performance

Shares of NYSE PFE opened at $24.68 on Friday. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $29.17. The stock’s 50 day moving average price is $24.87 and its 200-day moving average price is $24.15. The company has a market capitalization of $140.29 billion, a PE ratio of 13.13, a PEG ratio of 0.82 and a beta of 0.55. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.20. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.The firm had revenue of $14.65 billion for the quarter, compared to the consensus estimate of $13.43 billion. During the same quarter in the previous year, the business earned $0.60 EPS. The company’s revenue was up 10.3% compared to the same quarter last year. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. On average, equities analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Friday, November 7th. Pfizer’s payout ratio is presently 91.49%.

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.