EverSource Wealth Advisors LLC Cuts Stake in Pfizer Inc. (NYSE:PFE)

EverSource Wealth Advisors LLC cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 9.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,615 shares of the biopharmaceutical company’s stock after selling 1,931 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Pfizer were worth $536,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Briaud Financial Planning Inc purchased a new position in shares of Pfizer in the third quarter worth $30,000. GoalVest Advisory LLC raised its stake in shares of Pfizer by 304.9% during the fourth quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 811 shares during the last quarter. VisionPoint Advisory Group LLC boosted its holdings in shares of Pfizer by 52,350.0% during the third quarter. VisionPoint Advisory Group LLC now owns 1,049 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 1,047 shares during the period. Tennessee Valley Asset Management Partners bought a new stake in shares of Pfizer in the fourth quarter worth about $36,000. Finally, DiNuzzo Private Wealth Inc. purchased a new position in Pfizer during the 4th quarter valued at about $37,000. 68.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Guggenheim started coverage on shares of Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 price objective on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $36.00 target price (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 stock an “equal weight” rating in a research note on Thursday, May 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Monday, April 15th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $35.86.

Pfizer Price Performance

PFE traded down $0.62 during trading on Thursday, reaching $28.98. The company had a trading volume of 12,353,819 shares, compared to its average volume of 42,254,559. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. The business has a 50 day simple moving average of $27.24 and a 200-day simple moving average of $27.97. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $40.37.

Pfizer (NYSE:PFE) last released its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The firm had revenue of $14.88 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter last year, the business earned $1.23 EPS. The business’s revenue was down 19.5% on a year-over-year basis. As a group, research analysts predict that Pfizer Inc. will post 2.39 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.68 annualized dividend and a dividend yield of 5.80%. Pfizer’s payout ratio is -2,799.53%.

Pfizer 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.