Pfizer Inc. (NYSE:PFE) Shares Sold by Summit Financial Strategies Inc.

Summit Financial Strategies Inc. decreased its position in Pfizer Inc. (NYSE:PFEGet Rating) by 5.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,995 shares of the biopharmaceutical company’s stock after selling 245 shares during the quarter. Summit Financial Strategies Inc.’s holdings in Pfizer were worth $207,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bank OZK boosted its position in shares of Pfizer by 0.3% during the 4th quarter. Bank OZK now owns 68,883 shares of the biopharmaceutical company’s stock worth $4,067,000 after purchasing an additional 195 shares in the last quarter. Winfield Associates Inc. boosted its position in shares of Pfizer by 0.9% during the 4th quarter. Winfield Associates Inc. now owns 21,557 shares of the biopharmaceutical company’s stock worth $1,273,000 after purchasing an additional 200 shares in the last quarter. Birinyi Associates Inc. boosted its position in shares of Pfizer by 3.4% during the 1st quarter. Birinyi Associates Inc. now owns 6,000 shares of the biopharmaceutical company’s stock worth $311,000 after purchasing an additional 200 shares in the last quarter. Curbstone Financial Management Corp boosted its position in shares of Pfizer by 0.3% during the 1st quarter. Curbstone Financial Management Corp now owns 65,901 shares of the biopharmaceutical company’s stock worth $3,412,000 after purchasing an additional 200 shares in the last quarter. Finally, Cortland Associates Inc. MO boosted its position in shares of Pfizer by 2.6% during the 4th quarter. Cortland Associates Inc. MO now owns 7,897 shares of the biopharmaceutical company’s stock worth $466,000 after purchasing an additional 201 shares in the last quarter. Institutional investors and hedge funds own 66.50% of the company’s stock.

Pfizer Stock Down 0.7 %

Shares of Pfizer stock opened at $51.95 on Thursday. The stock has a 50-day moving average price of $51.50 and a 200 day moving average price of $51.37. The company has a market cap of $291.49 billion, a P/E ratio of 11.92, a P/E/G ratio of 0.62 and a beta of 0.73. The company has a current ratio of 1.39, a quick ratio of 1.13 and a debt-to-equity ratio of 0.43. Pfizer Inc. has a 1 year low of $40.94 and a 1 year high of $61.71.

Pfizer (NYSE:PFEGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The biopharmaceutical company reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.04). The business had revenue of $25.66 billion during the quarter, compared to analysts’ expectations of $24.73 billion. Pfizer had a return on equity of 38.29% and a net margin of 26.97%. The firm’s revenue was up 76.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.93 earnings per share. As a group, analysts expect that Pfizer Inc. will post 6.67 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 6th. Investors of record on Wednesday, June 29th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.08%. The ex-dividend date is Thursday, July 28th. Pfizer’s dividend payout ratio is currently 36.70%.

Insider Transactions at Pfizer

In other news, EVP William R. Carapezzi, Jr. sold 32,908 shares of the firm’s stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $50.00, for a total transaction of $1,645,400.00. Following the completion of the sale, the executive vice president now directly owns 38,146 shares of the company’s stock, valued at approximately $1,907,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP William R. Carapezzi, Jr. sold 32,908 shares of the firm’s stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $50.00, for a total transaction of $1,645,400.00. Following the completion of the sale, the executive vice president now directly owns 38,146 shares of the company’s stock, valued at approximately $1,907,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jennifer B. Damico sold 4,218 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $53.96, for a total value of $227,603.28. Following the sale, the senior vice president now directly owns 10,846 shares of the company’s stock, valued at $585,250.16. The disclosure for this sale can be found here. Insiders sold 41,126 shares of company stock valued at $2,075,003 in the last three months. Corporate insiders own 0.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. StockNews.com upgraded shares of Pfizer from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 19th. JPMorgan Chase & Co. set a $57.00 target price on Pfizer in a report on Tuesday, June 28th. Barclays set a $52.00 price target on Pfizer in a report on Thursday, July 7th. SVB Leerink started coverage on Pfizer in a research note on Monday, May 23rd. They set a “market perform” rating and a $55.00 target price for the company. Finally, The Goldman Sachs Group set a $51.00 price target on Pfizer in a research report on Wednesday, July 13th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Pfizer has an average rating of “Moderate Buy” and an average price target of $56.95.

Pfizer Profile

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Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and women's health under the Premarin family and Eliquis brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines, and oral COVID-19 treatment under the Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga, and Paxlovid brands.

Further Reading

Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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