Kendall Capital Management Sells 20,076 Shares of Pfizer Inc. (NYSE:PFE)

Kendall Capital Management decreased its position in Pfizer Inc. (NYSE:PFE) by 60.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 13,100 shares of the biopharmaceutical company’s stock after selling 20,076 shares during the period. Kendall Capital Management’s holdings in Pfizer were worth $367,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. 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 shares of Pfizer in the second quarter worth approximately $29,000. Creekmur Asset Management LLC purchased a new stake in Pfizer in the fourth quarter worth $32,000. Trivant Custom Portfolio Group LLC lifted its stake in Pfizer by 100.0% in the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 600 shares during the period. Finally, Financial Connections Group Inc. purchased a new stake in Pfizer in the second quarter worth $34,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Down 0.3 %

Pfizer stock opened at $29.67 on Friday. The firm has a market cap of $168.13 billion, a price-to-earnings ratio of -494.42, a PEG ratio of 1.02 and a beta of 0.68. The stock has a fifty day simple moving average of $29.35 and a two-hundred day simple moving average of $28.20. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $34.11. 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 (NYSE:PFE) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 EPS. Equities analysts predict that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PFE. UBS Group raised their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Monday. Finally, Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Company 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.