Focus Financial Network Inc. Cuts Position in Pfizer Inc. (NYSE:PFE)

Focus Financial Network Inc. reduced its stake in shares of Pfizer Inc. (NYSE:PFE) by 4.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,620 shares of the biopharmaceutical company’s stock after selling 2,969 shares during the period. Focus Financial Network Inc.’s holdings in Pfizer were worth $1,730,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PFE. Tennessee Valley Asset Management Partners acquired a new position in Pfizer during the fourth quarter worth $36,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Pfizer by 1.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 618,778 shares of the biopharmaceutical company’s stock worth $17,815,000 after buying an additional 9,032 shares during the last quarter. Criterion Capital Advisors LLC purchased a new stake in shares of Pfizer in the 4th quarter worth about $106,000. CWM LLC grew its stake in Pfizer by 1.0% in the 4th quarter. CWM LLC now owns 1,126,839 shares of the biopharmaceutical company’s stock valued at $32,442,000 after acquiring an additional 11,167 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. increased its holdings in Pfizer by 21.2% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 126,000 shares of the biopharmaceutical company’s stock valued at $3,628,000 after acquiring an additional 22,000 shares in the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Trading Up 0.5 %

Shares of PFE traded up $0.15 during trading hours on Wednesday, hitting $29.05. The stock had a trading volume of 5,439,706 shares, compared to its average volume of 39,161,922. The company’s fifty day simple moving average is $28.78 and its 200 day simple moving average is $27.93. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $37.15. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The firm has a market cap of $164.61 billion, a P/E ratio of -483.67, a P/E/G ratio of 1.00 and a beta of 0.69.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same period in the previous year, the company posted $0.67 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts forecast that Pfizer Inc. will post 2.68 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.78%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s payout ratio is currently -2,800.00%.

Analyst Ratings Changes

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

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.