Prime Capital Investment Advisors LLC Has $5.01 Million Stake in Pfizer Inc. (NYSE:PFE)

Prime Capital Investment Advisors LLC reduced its stake in shares of Pfizer Inc. (NYSE:PFE) by 22.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,045 shares of the biopharmaceutical company’s stock after selling 52,320 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Pfizer were worth $5,010,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PFE. Cantor Fitzgerald Investment Advisors L.P. bought a new position in Pfizer during the 4th quarter valued at about $16,166,000. LGT Group Foundation boosted its holdings in shares of Pfizer by 2.5% in the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock worth $20,786,000 after acquiring an additional 18,274 shares in the last quarter. ORG Partners LLC boosted its holdings in shares of Pfizer by 1,729.9% in the 2nd quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock worth $1,327,000 after acquiring an additional 44,458 shares in the last quarter. Kempner Capital Management Inc. bought a new stake in Pfizer during the 1st quarter worth approximately $2,439,000. Finally, Leo Wealth LLC acquired a new stake in Pfizer during the 4th quarter valued at $2,171,000. 68.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

PFE has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. UBS Group upped their target price on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Barclays raised their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Stock Performance

PFE stock opened at $29.27 on Monday. The company has a quick ratio of 0.60, a current ratio of 0.86 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 $34.42. The business’s fifty day moving average is $29.21 and its 200-day moving average is $28.13. The company has a market cap of $165.86 billion, a P/E ratio of -487.83, a price-to-earnings-growth ratio of 1.04 and a beta of 0.68.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate 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 positive return on equity of 8.42% and a negative net margin of 4.66%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Equities research analysts forecast that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Announces Dividend

The company 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. This represents a $1.68 annualized dividend and a yield of 5.74%. The ex-dividend date was Friday, July 26th. Pfizer’s payout ratio is presently -2,800.00%.

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.