Paces Ferry Wealth Advisors LLC Sells 640 Shares of Pfizer Inc. (NYSE:PFE)

Paces Ferry Wealth Advisors LLC reduced its stake in Pfizer Inc. (NYSE:PFE) by 7.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,987 shares of the biopharmaceutical company’s stock after selling 640 shares during the quarter. Paces Ferry Wealth Advisors LLC’s holdings in Pfizer were worth $223,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. FAS Wealth Partners Inc. raised its holdings in Pfizer by 1.3% in the 2nd quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock valued at $736,000 after acquiring an additional 342 shares during the period. Sachetta LLC raised its holdings in Pfizer by 7.3% in the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock valued at $140,000 after acquiring an additional 342 shares during the period. Ironvine Capital Partners LLC raised its holdings in Pfizer by 2.1% in the 1st quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock valued at $470,000 after acquiring an additional 353 shares during the period. Secure Asset Management LLC raised its holdings in Pfizer by 0.6% in the 2nd quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock valued at $1,632,000 after acquiring an additional 353 shares during the period. Finally, Patrick M Sweeney & Associates Inc. grew its position in shares of Pfizer by 0.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock worth $1,180,000 after purchasing an additional 355 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. UBS Group increased their target price on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Wells Fargo & Company increased their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Barclays increased their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Price Performance

PFE stock opened at $29.75 on Thursday. The company has a fifty day moving average price of $29.33 and a 200-day moving average price of $28.19. The company has a market capitalization of $168.58 billion, a P/E ratio of -495.75, a PEG ratio of 1.02 and a beta of 0.68. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $34.11. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter last year, the firm earned $0.67 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities analysts expect that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date was Friday, July 26th. Pfizer’s dividend payout ratio is presently -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.