CMG Global Holdings LLC Has $432,000 Position in Pfizer Inc. (NYSE:PFE)

CMG Global Holdings LLC trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 8.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,450 shares of the biopharmaceutical company’s stock after selling 1,346 shares during the period. CMG Global Holdings LLC’s holdings in Pfizer were worth $432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PFE. FAS Wealth Partners Inc. grew its position in Pfizer by 1.3% during the second quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock worth $736,000 after buying an additional 342 shares in the last quarter. Sachetta LLC lifted its position in shares of Pfizer by 7.3% during the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock valued at $140,000 after acquiring an additional 342 shares during the period. Ironvine Capital Partners LLC grew its holdings in shares of Pfizer by 2.1% during the 1st quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock worth $470,000 after purchasing an additional 353 shares in the last quarter. Secure Asset Management LLC increased its position in shares of Pfizer by 0.6% in the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock worth $1,632,000 after purchasing an additional 353 shares during the period. Finally, Patrick M Sweeney & Associates Inc. raised its stake in Pfizer by 0.8% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock valued at $1,180,000 after purchasing an additional 355 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective 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 increased their price target for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Wells Fargo & Company boosted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Barclays boosted their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Stock Performance

NYSE:PFE opened at $29.09 on Monday. The stock’s 50-day moving average is $29.31 and its 200-day moving average is $28.30. Pfizer Inc. has a 1-year low of $25.20 and a 1-year 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. The stock has a market cap of $164.84 billion, a P/E ratio of -484.83, a price-to-earnings-growth ratio of 1.27 and a beta of 0.68.

Pfizer (NYSE:PFE) last posted its earnings results 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. The firm had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 EPS. Equities research analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current year.

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.