Resources Management Corp CT ADV Trims Holdings in Pfizer Inc. (NYSE:PFE)

Resources Management Corp CT ADV decreased its position in shares of Pfizer Inc. (NYSE:PFE) by 5.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 117,700 shares of the biopharmaceutical company’s stock after selling 6,546 shares during the period. Resources Management Corp CT ADV’s holdings in Pfizer were worth $3,293,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Olistico Wealth LLC acquired a new position in Pfizer in the second quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new stake in Pfizer in the second quarter valued at approximately $29,000. Creekmur Asset Management LLC acquired a new position in Pfizer during the fourth quarter worth approximately $32,000. Trivant Custom Portfolio Group LLC raised its stake 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 worth $33,000 after purchasing an additional 600 shares during the period. Finally, Financial Connections Group Inc. acquired a new stake in shares of Pfizer during the 2nd quarter worth $34,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Down 0.4 %

Shares of Pfizer stock opened at $29.31 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average price of $29.36 and a 200 day moving average price of $28.26. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $34.11. The firm has a market cap of $166.09 billion, a P/E ratio of -488.42, a P/E/G ratio of 1.05 and a beta of 0.68.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.14. The business had revenue of $13.28 billion for 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 business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.67 EPS. On average, sell-side analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 5.73%. Pfizer’s payout ratio is currently -2,799.53%.

Analysts Set New Price Targets

Several equities research analysts have commented on PFE shares. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Monday, September 16th. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price target for the company from $28.00 to $34.00 in a report 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. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, UBS Group increased their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Eight equities research 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.54.

About Pfizer

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.