Peloton Wealth Strategists Sells 586 Shares of Pfizer Inc. (NYSE:PFE)

Peloton Wealth Strategists decreased its stake in Pfizer Inc. (NYSE:PFE) by 6.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,955 shares of the biopharmaceutical company’s stock after selling 586 shares during the quarter. Peloton Wealth Strategists’ holdings in Pfizer were worth $328,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Financial Gravity Asset Management Inc. raised its stake in shares of Pfizer by 559.2% in the second quarter. Financial Gravity Asset Management Inc. now owns 501 shares of the biopharmaceutical company’s stock valued at $14,919,000 after acquiring an additional 425 shares during the period. Worth Asset Management LLC bought a new position in Pfizer during the 1st quarter valued at about $29,000. 25 LLC bought a new stake in Pfizer in the first quarter worth about $25,000. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Pfizer during the fourth quarter valued at approximately $50,000. Finally, FWL Investment Management LLC bought a new position in shares of Pfizer during the fourth quarter valued at approximately $57,000. Institutional investors own 68.05% of the company’s stock.

Pfizer Stock Performance

Shares of NYSE:PFE traded down $0.02 during trading on Monday, hitting $29.90. The stock had a trading volume of 2,740,530 shares, compared to its average volume of 25,444,129. The company has a quick ratio of 2.05, a current ratio of 2.38 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 12-month low of $28.93 and a 12-month high of $54.93. The stock has a market capitalization of $168.83 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 1.91 and a beta of 0.63. The stock has a 50-day simple moving average of $31.97 and a two-hundred day simple moving average of $35.23.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.15. Pfizer had a net margin of 15.30% and a return on equity of 16.72%. The business had revenue of $13.23 billion for the quarter, compared to the consensus estimate of $13.77 billion. On average, equities research analysts expect that Pfizer Inc. will post 1.56 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Friday, November 10th will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, November 9th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 5.48%. Pfizer’s payout ratio is currently 89.62%.

Analyst Upgrades and Downgrades

PFE has been the subject of a number of recent analyst reports. Truist Financial dropped their price objective on Pfizer from $62.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, October 17th. Wells Fargo & Company cut their price objective on shares of Pfizer from $39.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, October 16th. Barclays lowered their target price on Pfizer from $35.00 to $34.00 and set an “equal weight” rating for the company in a report on Wednesday, November 1st. BMO Capital Markets cut their price target on Pfizer from $44.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, October 16th. Finally, Jefferies Financial Group upgraded Pfizer from a “hold” rating to a “buy” rating and upped their price objective for the stock from $38.00 to $39.00 in a research note on Monday, October 16th. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Pfizer currently has an average rating of “Hold” and an average target price of $42.50.

Pfizer Company Profile

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, 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.