Pfizer Inc. (NYSE:PFE) Stock Position Decreased by Abbot Financial Management Inc.

Abbot Financial Management Inc. trimmed its stake in Pfizer Inc. (NYSE:PFE) by 7.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,990 shares of the biopharmaceutical company’s stock after selling 1,822 shares during the quarter. Abbot Financial Management Inc.’s holdings in Pfizer were worth $608,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PFE. Clarity Asset Management Inc. purchased a new position in Pfizer during the 4th quarter worth approximately $27,000. Gould Capital LLC boosted its position in shares of Pfizer by 97.2% in the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 493 shares during the period. North Capital Inc. acquired a new stake in shares of Pfizer in the first quarter worth $28,000. Bernard Wealth Management Corp. purchased a new position in shares of Pfizer during the fourth quarter valued at $30,000. Finally, Horizon Financial Services LLC acquired a new position in Pfizer during the first quarter valued at $35,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Trading Down 2.2%

PFE stock opened at $24.79 on Monday. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $31.54. The company has a market capitalization of $140.91 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 0.90 and a beta of 0.58. The company’s 50-day simple moving average is $24.30 and its 200 day simple moving average is $24.65. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 1.26.

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

Pfizer Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on PFE. Cantor Fitzgerald began coverage on Pfizer in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 target price on the stock. Redburn Atlantic decreased their price target on shares of Pfizer from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, April 30th. Citigroup upped their price objective on shares of Pfizer from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. The Goldman Sachs Group increased their target price on shares of Pfizer from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Finally, Berenberg Bank lowered their target price on Pfizer from $28.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $28.55.

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.