Legacy Financial Advisors Inc. Reduces Holdings in Pfizer Inc. (NYSE:PFE)

Legacy Financial Advisors Inc. lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 8.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 24,287 shares of the biopharmaceutical company’s stock after selling 2,291 shares during the period. Legacy Financial Advisors Inc.’s holdings in Pfizer were worth $699,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Channel Wealth LLC boosted its holdings in shares of Pfizer by 17.5% during the 3rd quarter. Channel Wealth LLC now owns 68,808 shares of the biopharmaceutical company’s stock valued at $2,282,000 after buying an additional 10,230 shares in the last quarter. NorthRock Partners LLC grew its holdings in Pfizer by 10.9% in the third quarter. NorthRock Partners LLC now owns 33,259 shares of the biopharmaceutical company’s stock worth $1,103,000 after purchasing an additional 3,281 shares during the period. Arnhold LLC lifted its holdings in shares of Pfizer by 57.6% during the third quarter. Arnhold LLC now owns 559,858 shares of the biopharmaceutical company’s stock valued at $18,570,000 after purchasing an additional 204,670 shares during the last quarter. Kure Advisory LLC bought a new stake in shares of Pfizer in the 3rd quarter worth approximately $232,000. Finally, Canal Insurance CO grew its stake in shares of Pfizer by 32.4% in the 3rd quarter. Canal Insurance CO now owns 204,200 shares of the biopharmaceutical company’s stock worth $6,773,000 after buying an additional 50,000 shares during the last quarter. 68.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on PFE. Morgan Stanley lifted their price objective on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Monday, April 15th. Argus cut shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 target price (up previously from $33.00) on shares of Pfizer in a research note on Thursday. Finally, Guggenheim assumed coverage on shares of Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Pfizer presently has an average rating of “Hold” and an average price target of $36.00.

Pfizer Stock Performance

Shares of Pfizer stock traded up $0.11 during trading hours on Friday, reaching $27.81. 60,568,852 shares of the stock traded hands, compared to its average volume of 41,900,304. The company has a 50 day moving average price of $26.88 and a 200 day moving average price of $28.21. Pfizer Inc. has a one year low of $25.20 and a one year high of $40.37. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $157.48 billion, a price-to-earnings ratio of -463.42, a P/E/G ratio of 1.18 and a beta of 0.63.

Pfizer (NYSE:PFE) last announced its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The business had revenue of $14.88 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.58%. The firm’s revenue was down 19.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.23 earnings per share. On average, equities research analysts expect that Pfizer Inc. will post 2.36 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.68 annualized dividend and a yield of 6.04%. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

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.