BKM Wealth Management LLC Sells 861 Shares of Pfizer Inc. (NYSE:PFE)

BKM Wealth Management LLC trimmed its stake in Pfizer Inc. (NYSE:PFE) by 8.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,440 shares of the biopharmaceutical company’s stock after selling 861 shares during the period. BKM Wealth Management LLC’s holdings in Pfizer were worth $262,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PFE. Norges Bank bought a new position in shares of Pfizer in the fourth quarter worth approximately $2,129,927,000. Wellington Management Group LLP increased its position in shares of Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after purchasing an additional 11,099,024 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Pfizer by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock worth $2,985,783,000 after purchasing an additional 8,473,686 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Pfizer by 13.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after purchasing an additional 8,298,920 shares during the last quarter. Finally, Ruffer LLP increased its position in shares of Pfizer by 248.7% in the fourth quarter. Ruffer LLP now owns 5,796,012 shares of the biopharmaceutical company’s stock worth $166,837,000 after purchasing an additional 4,133,786 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $36.00 price target (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Morgan Stanley increased their price target on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Argus cut shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday, June 26th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $35.54.

Pfizer Stock Performance

NYSE:PFE opened at $28.22 on Tuesday. The firm has a market cap of $159.91 billion, a PE ratio of -470.25, a price-to-earnings-growth ratio of 1.10 and a beta of 0.69. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $37.80. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05. The business has a 50 day moving average price of $27.90 and a 200-day moving average price of $27.69.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The firm had revenue of $14.88 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the prior year, the firm posted $1.23 earnings per share. The business’s quarterly revenue was down 19.5% compared to the same quarter last year. Equities research analysts predict that Pfizer Inc. will post 2.38 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.95%. The ex-dividend date is Thursday, July 25th. Pfizer’s payout ratio is -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.