Procyon Private Wealth Partners LLC Cuts Stake in Pfizer Inc. (NYSE:PFE)

Procyon Private Wealth Partners LLC cut its stake in Pfizer Inc. (NYSE:PFE) by 22.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,850 shares of the biopharmaceutical company’s stock after selling 8,688 shares during the quarter. Procyon Private Wealth Partners LLC’s holdings in Pfizer were worth $1,284,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Pfizer by 1.2% during the second quarter. Vanguard Group Inc. now owns 456,203,630 shares of the biopharmaceutical company’s stock valued at $17,864,934,000 after acquiring an additional 5,289,511 shares in the last quarter. BlackRock Inc. grew its stake in shares of Pfizer by 0.3% during the second quarter. BlackRock Inc. now owns 407,048,272 shares of the biopharmaceutical company’s stock valued at $15,940,011,000 after acquiring an additional 1,314,302 shares in the last quarter. State Street Corp grew its stake in shares of Pfizer by 1.3% during the second quarter. State Street Corp now owns 278,568,311 shares of the biopharmaceutical company’s stock valued at $10,908,735,000 after acquiring an additional 3,681,456 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Pfizer by 2.4% during the second quarter. Geode Capital Management LLC now owns 96,381,189 shares of the biopharmaceutical company’s stock valued at $3,764,312,000 after acquiring an additional 2,233,072 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Pfizer by 7.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 54,593,374 shares of the biopharmaceutical company’s stock valued at $2,137,877,000 after acquiring an additional 4,018,496 shares in the last quarter. Institutional investors own 64.99% of the company’s stock.

Pfizer stock opened at $50.89 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.37. The firm has a market cap of $285.64 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 1.16 and a beta of 0.72. Pfizer Inc. has a 1 year low of $33.36 and a 1 year high of $52.83. The firm’s 50 day moving average price is $45.01 and its two-hundred day moving average price is $43.27.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, November 2nd. The biopharmaceutical company reported $1.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.26. Pfizer had a net margin of 27.66% and a return on equity of 31.66%. The firm had revenue of $24.09 billion for the quarter, compared to analyst estimates of $22.82 billion. During the same quarter in the previous year, the business posted $0.72 earnings per share. The firm’s quarterly revenue was up 134.4% compared to the same quarter last year. As a group, equities analysts predict that Pfizer Inc. will post 4.2 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 6th. Shareholders of record on Friday, November 5th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 3.07%. The ex-dividend date is Thursday, November 4th. Pfizer’s payout ratio is 46.43%.

In other news, insider John D. Young sold 150,000 shares of the business’s stock in a transaction on Thursday, November 11th. The shares were sold at an average price of $50.06, for a total transaction of $7,509,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.05% of the company’s stock.

PFE has been the subject of a number of research reports. Barclays set a $44.00 price target on Pfizer in a research note on Wednesday, November 17th. BMO Capital Markets initiated coverage on Pfizer in a research note on Thursday, November 18th. They issued an “outperform” rating and a $60.00 price target for the company. Morgan Stanley lifted their price target on Pfizer from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 12th. Truist Securities raised their target price on shares of Pfizer from $43.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Royal Bank of Canada set a $44.00 target price on shares of Pfizer in a report on Thursday, July 29th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Pfizer has an average rating of “Hold” and an average price target of $49.00.

Pfizer Company Profile

Pfizer Inc is a research-based global biopharmaceutical company. It engages in the discovery, development, manufacture, marketing, sales and distribution of biopharmaceutical products worldwide. The firm work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases.

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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