Flaharty Asset Management LLC Reduces Stock Position in Pfizer Inc. (NYSE:PFE)

Flaharty Asset Management LLC lowered its stake in Pfizer Inc. (NYSE:PFE) by 16.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,330 shares of the biopharmaceutical company’s stock after selling 1,249 shares during the quarter. Flaharty Asset Management LLC’s holdings in Pfizer were worth $232,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. boosted its holdings in Pfizer by 559.2% in the second quarter. Financial Gravity Asset Management Inc. now owns 501 shares of the biopharmaceutical company’s stock worth $14,919,000 after purchasing an additional 425 shares during the last quarter. Worth Asset Management LLC bought a new position in Pfizer in the 1st quarter worth $29,000. 25 LLC purchased a new position in Pfizer during the first quarter valued at $25,000. Sanctuary Wealth Management L.L.C. bought a new stake in Pfizer during the fourth quarter valued at about $50,000. Finally, FWL Investment Management LLC purchased a new stake in Pfizer in the fourth quarter worth about $57,000. Hedge funds and other institutional investors own 68.05% of the company’s stock.

Pfizer Price Performance

PFE traded up $0.21 during trading hours on Tuesday, hitting $30.19. The company’s stock had a trading volume of 8,903,159 shares, compared to its average volume of 25,473,957. The stock has a market cap of $170.47 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 1.91 and a beta of 0.63. The business’s 50-day moving average price is $31.89 and its 200-day moving average price is $35.17. The company has a current ratio of 2.38, a quick ratio of 2.05 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.

Pfizer (NYSE:PFE) last posted its 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. Pfizer had a net margin of 15.30% and a return on equity of 16.72%. The firm had revenue of $13.23 billion for the quarter, compared to the consensus estimate of $13.77 billion. Sell-side analysts expect that Pfizer Inc. will post 1.56 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

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 annualized dividend and a yield of 5.43%. Pfizer’s payout ratio is currently 89.62%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PFE shares. TheStreet lowered shares of Pfizer from a “b-” rating to a “c+” rating in a report on Monday, September 25th. Jefferies Financial Group raised shares of Pfizer from a “hold” rating to a “buy” rating and increased their price objective for the stock from $38.00 to $39.00 in a research note on Monday, October 16th. Wells Fargo & Company lowered their target price on shares of Pfizer from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Monday, October 16th. StockNews.com initiated coverage on Pfizer in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Finally, BMO Capital Markets dropped their price objective on Pfizer from $44.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, October 16th. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.