Peloton Wealth Strategists Trims Stock Position in Pfizer Inc. (NYSE:PFE)

Peloton Wealth Strategists decreased its position in shares of Pfizer Inc. (NYSE:PFE) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund 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 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. grew its stake in Pfizer by 559.2% during the 2nd quarter. Financial Gravity Asset Management Inc. now owns 501 shares of the biopharmaceutical company’s stock worth $14,919,000 after buying an additional 425 shares during the last quarter. Worth Asset Management LLC acquired a new stake in shares of Pfizer in the first quarter valued at approximately $29,000. 25 LLC purchased a new position in shares of Pfizer during the first quarter worth approximately $25,000. Sanctuary Wealth Management L.L.C. purchased a new stake in Pfizer in the 4th quarter valued at $50,000. Finally, FWL Investment Management LLC acquired a new stake in Pfizer during the 4th quarter worth $57,000. Hedge funds and other institutional investors own 68.05% of the company’s stock.

Pfizer Price Performance

NYSE:PFE traded down $0.02 during mid-day trading on Monday, hitting $29.90. 2,740,530 shares of the company’s stock traded hands, compared to its average volume of 25,444,129. Pfizer Inc. has a 1 year low of $28.93 and a 1 year high of $54.93. The company has a market cap of $168.83 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 1.91 and a beta of 0.63. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.05 and a current ratio of 2.38. The firm’s 50 day simple moving average is $31.97 and its 200 day simple moving average is $35.23.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.15. The company had revenue of $13.23 billion during the quarter, compared to analysts’ expectations of $13.77 billion. Pfizer had a return on equity of 16.72% and a net margin of 15.30%. Sell-side analysts expect that Pfizer Inc. will post 1.56 EPS for the current year.

Pfizer Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PFE. Morgan Stanley reduced their target price on shares of Pfizer from $39.00 to $37.00 and set an “equal weight” rating for the company in a report on Wednesday, November 1st. UBS Group reaffirmed a “neutral” rating and set a $34.00 price target (down from $36.00) on shares of Pfizer in a report on Friday, October 20th. JPMorgan Chase & Co. cut their price objective on shares of Pfizer from $36.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, October 16th. BMO Capital Markets dropped their price target on shares of Pfizer from $44.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, October 16th. Finally, Barclays reduced their price objective on shares of Pfizer from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 1st. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $42.50.

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.