Centennial Wealth Advisory LLC Cuts Stock Holdings in Pfizer Inc. (NYSE:PFE)

Centennial Wealth Advisory LLC reduced its position in Pfizer Inc. (NYSE:PFE) by 10.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,030 shares of the biopharmaceutical company’s stock after selling 2,588 shares during the period. Centennial Wealth Advisory LLC’s holdings in Pfizer were worth $558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Pfizer during the 4th quarter worth about $2,328,986,000. Charles Schwab Investment Management Inc. raised its holdings in Pfizer by 19.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock worth $4,124,330,000 after purchasing an additional 25,315,159 shares during the period. Starboard Value LP acquired a new position in Pfizer in the 4th quarter worth about $407,730,000. Raymond James Financial Inc. purchased a new position in Pfizer during the fourth quarter worth approximately $274,694,000. Finally, Assenagon Asset Management S.A. grew its holdings in Pfizer by 307.5% in the first quarter. Assenagon Asset Management S.A. now owns 10,046,340 shares of the biopharmaceutical company’s stock valued at $254,574,000 after purchasing an additional 7,581,030 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Down 0.5%

PFE stock opened at $23.88 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average of $23.17 and a two-hundred day moving average of $24.92. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $31.54. The company has a market cap of $135.74 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 0.87 and a beta of 0.57.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS 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 quarter last year, the firm earned $0.82 earnings per share. The business’s revenue for the quarter was down 7.8% on a year-over-year basis. As a group, analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 9th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 7.20%. The ex-dividend date was Friday, May 9th. Pfizer’s payout ratio is currently 124.64%.

Analysts Set New Price Targets

PFE has been the subject of several research analyst reports. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $25.00 target price (down from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. Cantor Fitzgerald initiated coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 price objective for the company. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a report on Monday, March 10th. Guggenheim reissued a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. Finally, Citigroup restated a “neutral” rating on shares of Pfizer in a research report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Pfizer has a consensus rating of “Moderate Buy” and a consensus target price of $29.17.

Pfizer 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.