Summit Financial Group Inc. Sells 294 Shares of Pfizer Inc. (NYSE:PFE)

Posted by Defense World Staff on Jun 23rd, 2023

Summit Financial Group Inc. decreased its position in Pfizer Inc. (NYSE:PFE – Get Rating) by 0.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 36,327 shares of the biopharmaceutical company’s stock after selling 294 shares during the quarter. Summit Financial Group Inc.’s holdings in Pfizer were worth $1,482,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Harbor Investment Advisory LLC grew its holdings in shares of Pfizer by 3.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 23,977 shares of the biopharmaceutical company’s stock worth $1,229,000 after purchasing an additional 825 shares during the last quarter. BancFirst Trust & Investment Management grew its holdings in shares of Pfizer by 2.3% in the 1st quarter. BancFirst Trust & Investment Management now owns 17,794 shares of the biopharmaceutical company’s stock worth $719,000 after purchasing an additional 398 shares during the last quarter. Secure Asset Management LLC grew its holdings in shares of Pfizer by 3.5% in the 4th quarter. Secure Asset Management LLC now owns 15,835 shares of the biopharmaceutical company’s stock worth $811,000 after purchasing an additional 537 shares during the last quarter. Range Financial Group LLC grew its holdings in shares of Pfizer by 2.8% in the 1st quarter. Range Financial Group LLC now owns 37,010 shares of the biopharmaceutical company’s stock worth $1,510,000 after purchasing an additional 1,024 shares during the last quarter. Finally, Allred Capital Management LLC grew its holdings in shares of Pfizer by 1.9% in the 4th quarter. Allred Capital Management LLC now owns 20,425 shares of the biopharmaceutical company’s stock worth $1,047,000 after purchasing an additional 387 shares during the last quarter. Institutional investors own 67.80% of the company’s stock.

Pfizer Stock Performance

Shares of NYSE:PFE opened at $38.73 on Friday. The company has a market capitalization of $218.64 billion, a price-to-earnings ratio of 7.62, a P/E/G ratio of 1.33 and a beta of 0.64. The firm’s 50 day simple moving average is $38.77 and its 200 day simple moving average is $42.81. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.37 and a quick ratio of 1.11. Pfizer Inc. has a fifty-two week low of $36.17 and a fifty-two week high of $54.93.

Pfizer (NYSE:PFE – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The biopharmaceutical company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.23. The business had revenue of $18.28 billion for the quarter, compared to the consensus estimate of $16.49 billion. Pfizer had a net margin of 31.25% and a return on equity of 37.53%. Pfizer’s revenue for the quarter was down 28.8% on a year-over-year basis. During the same period last year, the company posted $1.62 EPS. As a group, sell-side analysts forecast that Pfizer Inc. will post 3.35 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, July 28th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 4.23%. Pfizer’s dividend payout ratio (DPR) is currently 32.28%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Daiwa Capital Markets lowered shares of Pfizer from an “outperform” rating to a “neutral” rating and set a $38.00 price objective on the stock. in a report on Thursday, May 11th. Wells Fargo & Company decreased their price objective on shares of Pfizer from $50.00 to $44.00 and set an “equal weight” rating on the stock in a report on Friday, March 17th. JPMorgan Chase & Co. set a $45.00 price objective on shares of Pfizer in a report on Monday, February 27th. StockNews.com assumed coverage on shares of Pfizer in a report on Thursday, May 18th. They set a “buy” rating on the stock. Finally, Bank of America decreased their price objective on shares of Pfizer from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, April 21st. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $47.33.

Insiders Place Their Bets

In related news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction on Friday, May 5th. The shares were purchased at an average cost of $38.42 per share, for a total transaction of $38,420.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $192,100. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.05% of the company’s stock.

Pfizer Company Profile

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Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, 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.