Pfizer Inc. (NYSE:PFE) Position Reduced by Front Row Advisors LLC

Front Row Advisors LLC reduced its stake in Pfizer Inc. (NYSE:PFE) by 95.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,606 shares of the biopharmaceutical company’s stock after selling 61,640 shares during the quarter. Pfizer comprises approximately 3.2% of Front Row Advisors LLC’s portfolio, making the stock its 5th biggest holding. Front Row Advisors LLC’s holdings in Pfizer were worth $639,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. 25 LLC acquired a new stake in Pfizer during the first quarter worth about $25,000. Worth Asset Management LLC acquired a new stake in shares of Pfizer in the first quarter valued at about $29,000. Freedom Wealth Alliance LLC acquired a new stake in shares of Pfizer in the fourth quarter valued at about $35,000. Macroview Investment Management LLC grew its stake in shares of Pfizer by 70.0% in the first quarter. Macroview Investment Management LLC now owns 962 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 396 shares in the last quarter. Finally, GeoWealth Management LLC acquired a new stake in shares of Pfizer in the first quarter valued at about $49,000. 68.05% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Stock Performance

Shares of NYSE PFE traded down $0.06 during mid-day trading on Tuesday, hitting $33.88. The company had a trading volume of 2,860,795 shares, compared to its average volume of 24,096,299. The stock has a market cap of $191.29 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 1.14 and a beta of 0.59. Pfizer Inc. has a 12 month low of $33.54 and a 12 month high of $54.93. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.12 and a quick ratio of 1.82. The firm’s 50 day simple moving average is $35.95 and its two-hundred day simple moving average is $38.14.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. The business had revenue of $12.73 billion for the quarter, compared to the consensus estimate of $13.36 billion. Pfizer had a return on equity of 28.36% and a net margin of 27.55%. The business’s revenue was down 54.1% on a year-over-year basis. During the same quarter last year, the business posted $2.04 EPS. As a group, equities research analysts forecast that Pfizer Inc. will post 3.33 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Friday, July 28th were given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 4.84%. The ex-dividend date was Thursday, July 27th. Pfizer’s dividend payout ratio is currently 43.62%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PFE shares. Morgan Stanley reduced their price target on Pfizer from $42.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $75.00 price target on shares of Pfizer in a report on Tuesday, September 5th. Truist Financial reduced their price target on Pfizer from $64.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, August 2nd. Credit Suisse Group downgraded Pfizer from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $47.00 to $40.00 in a report on Thursday, June 29th. Finally, Barclays reduced their price target on Pfizer from $40.00 to $38.00 in a report on Tuesday, July 11th. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.35.

Pfizer 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.