Altus Wealth Group LLC Lowers Stock Holdings in Pfizer Inc. (NYSE:PFE)

Altus Wealth Group LLC cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 13.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,233 shares of the biopharmaceutical company’s stock after selling 1,485 shares during the quarter. Altus Wealth Group LLC’s holdings in Pfizer were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PFE. Norges Bank acquired a new position in Pfizer during the fourth quarter worth approximately $2,129,927,000. Wellington Management Group LLP raised its position in shares of Pfizer by 4.9% in the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after buying an additional 11,099,024 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Pfizer by 13.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after acquiring an additional 8,298,920 shares during the last quarter. Swedbank AB purchased a new stake in Pfizer during the first quarter valued at about $172,902,000. Finally, Pzena Investment Management LLC raised its holdings in shares of Pfizer by 181.6% in the 1st quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock worth $212,855,000 after purchasing an additional 4,947,000 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Trading Up 0.4 %

PFE opened at $28.51 on Friday. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $35.28. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The stock has a market capitalization of $161.55 billion, a PE ratio of -475.09, a P/E/G ratio of 1.02 and a beta of 0.68. The firm’s fifty day moving average price is $29.05 and its 200 day moving average price is $28.04.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate 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 business had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter last year, the company posted $0.67 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, research analysts expect that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s dividend payout ratio is presently -2,799.53%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Wells Fargo & Company increased their price objective on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Monday, August 19th. Finally, UBS Group boosted their price objective on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.