Carolinas Wealth Consulting LLC Trims Stock Holdings in Pfizer Inc. (NYSE:PFE)

Carolinas Wealth Consulting LLC reduced its stake in shares of Pfizer Inc. (NYSE:PFE) by 45.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,716 shares of the biopharmaceutical company’s stock after selling 2,265 shares during the period. Carolinas Wealth Consulting LLC’s holdings in Pfizer were worth $76,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Olistico Wealth LLC bought a new position in shares of Pfizer in the second quarter worth approximately $25,000. MFA Wealth Advisors LLC bought a new position in Pfizer in the 2nd quarter worth $29,000. Creekmur Asset Management LLC purchased a new stake in Pfizer in the 4th quarter worth $32,000. Trivant Custom Portfolio Group LLC raised its holdings in Pfizer by 100.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 600 shares during the period. Finally, Financial Connections Group Inc. purchased a new position in shares of Pfizer in the second quarter valued at about $34,000. 68.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PFE. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Monday. Barclays boosted their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company raised their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Trading Down 0.3 %

Shares of PFE opened at $29.67 on Friday. The company’s fifty day simple moving average is $29.35 and its 200-day simple moving average is $28.20. The company has a market cap of $168.13 billion, a P/E ratio of -494.42, a P/E/G ratio of 1.02 and a beta of 0.68. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $34.11.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same period in the prior year, the company posted $0.67 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts expect that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.66%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s dividend payout ratio is currently -2,799.53%.

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.