Sheets Smith Wealth Management Trims Holdings in Pfizer Inc. (NYSE:PFE)

Sheets Smith Wealth Management lowered its holdings in Pfizer Inc. (NYSE:PFE) by 17.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 42,216 shares of the biopharmaceutical company’s stock after selling 8,926 shares during the quarter. Sheets Smith Wealth Management’s holdings in Pfizer were worth $1,215,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Beacon Financial Advisory LLC grew its position in shares of Pfizer by 3.4% in the 3rd quarter. Beacon Financial Advisory LLC now owns 29,245 shares of the biopharmaceutical company’s stock worth $970,000 after buying an additional 956 shares during the period. Canal Capital Management LLC increased its stake in shares of Pfizer by 2.4% during the third quarter. Canal Capital Management LLC now owns 21,326 shares of the biopharmaceutical company’s stock valued at $707,000 after purchasing an additional 506 shares in the last quarter. Concord Wealth Partners lifted its holdings in shares of Pfizer by 51.9% during the third quarter. Concord Wealth Partners now owns 15,843 shares of the biopharmaceutical company’s stock valued at $526,000 after purchasing an additional 5,412 shares during the last quarter. JB Capital LLC boosted its position in shares of Pfizer by 22.0% in the 3rd quarter. JB Capital LLC now owns 154,540 shares of the biopharmaceutical company’s stock worth $5,126,000 after purchasing an additional 27,868 shares in the last quarter. Finally, ETF Store Inc. grew its stake in shares of Pfizer by 12.0% in the 3rd quarter. ETF Store Inc. now owns 6,803 shares of the biopharmaceutical company’s stock worth $214,000 after buying an additional 727 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PFE has been the topic of a number of recent research reports. Morgan Stanley increased their target price on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Monday, April 15th. BMO Capital Markets reiterated an “outperform” rating and set a $36.00 target price (up from $33.00) on shares of Pfizer in a research note on Thursday. Argus cut Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, Guggenheim assumed coverage on shares of Pfizer in a report on Friday, February 23rd. They set a “buy” rating and a $36.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $36.00.

Pfizer Price Performance

PFE stock traded up $0.35 during trading on Monday, reaching $28.16. The company’s stock had a trading volume of 23,442,189 shares, compared to its average volume of 42,916,008. The company’s fifty day moving average is $26.88 and its 200-day moving average is $28.16. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $40.37. The company has a market capitalization of $159.46 billion, a P/E ratio of -466.92, a price-to-earnings-growth ratio of 1.17 and a beta of 0.63. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69.

Pfizer (NYSE:PFE) last issued its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) 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 the consensus estimate of $13.87 billion. During the same quarter last year, the company earned $1.23 EPS. The firm’s quarterly revenue was down 19.5% on a year-over-year basis. On average, research analysts expect that Pfizer Inc. will post 2.39 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 10th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 5.97%. The ex-dividend date is Thursday, May 9th. Pfizer’s payout ratio is currently -2,799.53%.

Pfizer Company 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.