Axxcess Wealth Management LLC Lowers Holdings in Pfizer Inc. (NYSE:PFE)

Axxcess Wealth Management LLC reduced its stake in Pfizer Inc. (NYSE:PFE) by 3.6% during the second quarter, HoldingsChannel reports. The fund owned 219,949 shares of the biopharmaceutical company’s stock after selling 8,171 shares during the period. Axxcess Wealth Management LLC’s holdings in Pfizer were worth $6,154,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Wells Fargo & Company raised their price objective on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Monday. Finally, Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Price Performance

PFE stock opened at $30.07 on Tuesday. The firm has a 50 day moving average of $29.26 and a 200-day moving average of $28.15. The company has a market cap of $170.40 billion, a price-to-earnings ratio of -501.08, a PEG ratio of 1.02 and a beta of 0.68. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $34.12. 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 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. The company 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%. Pfizer’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 earnings per share. As a group, equities analysts expect that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th were paid a dividend of $0.42 per share. The ex-dividend date was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.59%. Pfizer’s dividend payout ratio (DPR) is -2,799.53%.

Pfizer 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.