Avidian Wealth Solutions LLC Lowers Stock Holdings in Pfizer Inc. (NYSE:PFE)

Avidian Wealth Solutions LLC cut its stake in shares of Pfizer Inc. (NYSE:PFE) by 5.2% in the 4th quarter, Holdings Channel reports. The fund owned 20,017 shares of the biopharmaceutical company’s stock after selling 1,087 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Pfizer were worth $576,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Ellerson Group Inc. ADV lifted its stake in shares of Pfizer by 833.4% during the fourth quarter. Ellerson Group Inc. ADV now owns 133,572 shares of the biopharmaceutical company’s stock valued at $3,846,000 after buying an additional 119,262 shares during the period. TCG Advisory Services LLC grew its holdings in Pfizer by 157.8% in the fourth quarter. TCG Advisory Services LLC now owns 42,710 shares of the biopharmaceutical company’s stock valued at $1,230,000 after purchasing an additional 26,145 shares during the period. AJOVista LLC purchased a new position in Pfizer during the fourth quarter worth approximately $181,000. Provence Wealth Management Group grew its stake in shares of Pfizer by 4.6% during the 4th quarter. Provence Wealth Management Group now owns 9,056 shares of the biopharmaceutical company’s stock valued at $261,000 after buying an additional 397 shares during the period. Finally, Sapient Capital LLC purchased a new position in shares of Pfizer in the 4th quarter worth $1,630,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on PFE. Morgan Stanley raised their price objective on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Guggenheim started coverage on Pfizer in a report on Friday, February 23rd. They issued a “buy” rating and a $36.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Monday, April 15th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $36.00 price target (up previously from $33.00) on shares of Pfizer in a report on Thursday. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $36.00.

Pfizer Stock Performance

Pfizer stock traded up $0.32 during midday trading on Monday, reaching $28.13. 21,009,778 shares of the stock traded hands, compared to its average volume of 42,881,297. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $40.37. The firm has a fifty day moving average price of $26.88 and a two-hundred day moving average price of $28.16. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. The firm has a market cap of $159.29 billion, a price-to-earnings ratio of -466.92, a PEG ratio of 1.17 and a beta of 0.63.

Pfizer (NYSE:PFE) last released its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.26. Pfizer had a positive return on equity of 8.58% and a negative net margin of 0.56%. The company had revenue of $14.88 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the previous year, the business posted $1.23 EPS. The business’s revenue for the quarter was down 19.5% on a year-over-year basis. On average, equities research analysts forecast that Pfizer Inc. will post 2.39 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.97%. The ex-dividend date is Thursday, May 9th. Pfizer’s dividend payout ratio is presently -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.