Arkadios Wealth Advisors Reduces Stake in Pfizer Inc. (NYSE:PFE)

Arkadios Wealth Advisors lowered its holdings in Pfizer Inc. (NYSE:PFEGet Rating) by 16.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 83,844 shares of the biopharmaceutical company’s stock after selling 15,932 shares during the quarter. Arkadios Wealth Advisors’ holdings in Pfizer were worth $4,396,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PFE. Vanguard Group Inc. grew its stake in Pfizer by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 479,065,273 shares of the biopharmaceutical company’s stock worth $24,801,210,000 after buying an additional 13,790,348 shares during the last quarter. State Street Corp grew its stake in Pfizer by 0.7% during the 1st quarter. State Street Corp now owns 286,854,205 shares of the biopharmaceutical company’s stock worth $14,850,442,000 after buying an additional 2,037,373 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Pfizer by 13.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 59,828,849 shares of the biopharmaceutical company’s stock worth $3,097,341,000 after buying an additional 6,972,650 shares during the last quarter. Norges Bank purchased a new position in Pfizer during the 4th quarter worth approximately $3,351,891,000. Finally, Massachusetts Financial Services Co. MA grew its stake in Pfizer by 28.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 43,391,119 shares of the biopharmaceutical company’s stock worth $2,246,359,000 after buying an additional 9,537,621 shares during the last quarter. Hedge funds and other institutional investors own 67.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PFE shares. Morgan Stanley dropped their price target on Pfizer from $52.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Friday, July 8th. The Goldman Sachs Group set a $50.00 price objective on Pfizer in a research report on Thursday, September 1st. SVB Leerink decreased their price objective on Pfizer from $55.00 to $53.00 and set a “market perform” rating for the company in a research report on Friday, July 29th. Berenberg Bank set a $44.00 price objective on Pfizer in a research report on Wednesday, September 14th. Finally, UBS Group set a $59.00 price objective on Pfizer in a research report on Thursday, September 1st. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Pfizer Stock Performance

Pfizer stock opened at $44.57 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.20 and a current ratio of 1.42. The stock has a fifty day moving average of $48.40 and a two-hundred day moving average of $50.33. The company has a market capitalization of $250.14 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 0.54 and a beta of 0.70. Pfizer Inc. has a fifty-two week low of $40.94 and a fifty-two week high of $61.71.

Pfizer (NYSE:PFEGet Rating) last released its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.09. The company had revenue of $27.74 billion during the quarter, compared to the consensus estimate of $26.20 billion. Pfizer had a return on equity of 43.18% and a net margin of 28.92%. Pfizer’s revenue was up 46.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 earnings per share. On average, analysts anticipate that Pfizer Inc. will post 6.54 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 5th. Stockholders of record on Friday, November 4th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.59%. Pfizer’s dividend payout ratio is currently 31.31%.

Pfizer Company Profile

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Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and women's health under the Premarin family and Eliquis brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines, and oral COVID-19 treatment under the Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga, and Paxlovid brands.

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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