Lake Street Private Wealth LLC Has $770,000 Stock Position in Pfizer Inc. (NYSE:PFE)

Lake Street Private Wealth LLC cut its stake in Pfizer Inc. (NYSE:PFE) by 1.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,760 shares of the biopharmaceutical company’s stock after selling 444 shares during the period. Lake Street Private Wealth LLC’s holdings in Pfizer were worth $770,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PFE. Valley National Advisers Inc. grew its holdings in shares of Pfizer by 26.2% in the 1st quarter. Valley National Advisers Inc. now owns 32,939 shares of the biopharmaceutical company’s stock worth $914,000 after purchasing an additional 6,835 shares during the last quarter. JTC Employer Solutions Trustee Ltd grew its stake in Pfizer by 400.0% during the first quarter. JTC Employer Solutions Trustee Ltd now owns 15,000 shares of the biopharmaceutical company’s stock worth $416,000 after buying an additional 12,000 shares during the last quarter. KFG Wealth Management LLC bought a new position in shares of Pfizer in the first quarter valued at approximately $609,000. Caldwell Sutter Capital Inc. boosted its holdings in shares of Pfizer by 2.3% in the 1st quarter. Caldwell Sutter Capital Inc. now owns 73,621 shares of the biopharmaceutical company’s stock worth $2,043,000 after acquiring an additional 1,674 shares in the last quarter. Finally, Denali Advisors LLC grew its position in Pfizer by 11.9% during the 1st quarter. Denali Advisors LLC now owns 29,200 shares of the biopharmaceutical company’s stock worth $810,000 after acquiring an additional 3,100 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Down 0.6 %

Pfizer stock opened at $27.67 on Thursday. The company has a fifty day simple moving average of $27.96 and a 200 day simple moving average of $27.71. The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $37.80. The company has a market cap of $156.79 billion, a P/E ratio of -461.09, a price-to-earnings-growth ratio of 1.09 and a beta of 0.69.

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

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be issued a dividend of $0.42 per share. The ex-dividend date is Thursday, July 25th. This represents a $1.68 dividend on an annualized basis and a yield of 6.07%. Pfizer’s payout ratio is -2,799.53%.

Analyst Upgrades and Downgrades

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

About Pfizer

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.