Prentice Wealth Management LLC Purchases 1,390 Shares of Pfizer Inc. (NYSE:PFE)

Prentice Wealth Management LLC increased its position in shares of Pfizer Inc. (NYSE:PFE) by 11.8% during the first quarter, HoldingsChannel.com reports. The fund owned 13,152 shares of the biopharmaceutical company’s stock after acquiring an additional 1,390 shares during the period. Prentice Wealth Management LLC’s holdings in Pfizer were worth $365,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PFE. Oppenheimer & Close LLC increased its holdings in Pfizer by 1.8% during the 3rd quarter. Oppenheimer & Close LLC now owns 139,075 shares of the biopharmaceutical company’s stock worth $4,613,000 after acquiring an additional 2,470 shares during the period. Mutual Advisors LLC boosted its position in Pfizer by 8.2% during the 3rd quarter. Mutual Advisors LLC now owns 167,065 shares of the biopharmaceutical company’s stock valued at $5,542,000 after buying an additional 12,692 shares during the period. Mather Group LLC. boosted its position in Pfizer by 35.0% during the 3rd quarter. Mather Group LLC. now owns 34,169 shares of the biopharmaceutical company’s stock valued at $1,133,000 after buying an additional 8,857 shares during the period. Weik Capital Management boosted its position in Pfizer by 1.0% during the 3rd quarter. Weik Capital Management now owns 41,154 shares of the biopharmaceutical company’s stock valued at $1,365,000 after buying an additional 400 shares during the period. Finally, Valley National Advisers Inc. boosted its position in Pfizer by 2.5% during the 3rd quarter. Valley National Advisers Inc. now owns 31,751 shares of the biopharmaceutical company’s stock valued at $1,053,000 after buying an additional 782 shares during the period. Institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

PFE has been the subject of several research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Wednesday. 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. Argus cut shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, 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. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $35.86.

Pfizer Stock Down 2.3 %

NYSE:PFE traded down $0.65 on Wednesday, reaching $27.34. 17,695,275 shares of the stock traded hands, compared to its average volume of 40,967,766. The company has a market capitalization of $154.92 billion, a price-to-earnings ratio of -463.42, a PEG ratio of 1.10 and a beta of 0.70. 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 12 month low of $25.20 and a 12 month high of $37.80. The company’s fifty day simple moving average is $27.77 and its 200 day simple moving average is $27.69.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the business posted $1.23 earnings per share. The business’s revenue for the quarter was down 19.5% on a year-over-year basis. Equities analysts predict that Pfizer Inc. will post 2.38 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 10th were paid a $0.42 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.14%. Pfizer’s dividend payout ratio is presently -2,799.53%.

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.