Pfizer Inc. (NYSE:PFE) Shares Sold by Fragasso Group Inc.

Posted by Defense World Staff on Jun 25th, 2023

Fragasso Group Inc. reduced its stake in shares of Pfizer Inc. (NYSE:PFE – Get Rating) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,434 shares of the biopharmaceutical company’s stock after selling 660 shares during the period. Fragasso Group Inc.’s holdings in Pfizer were worth $1,609,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Lam Group Inc. acquired a new position in shares of Pfizer during the 4th quarter worth approximately $25,000. Worth Asset Management LLC acquired a new position in Pfizer in the 1st quarter valued at $29,000. My Personal CFO LLC acquired a new position in Pfizer in the 4th quarter valued at $32,000. Mendota Financial Group LLC acquired a new position in Pfizer in the 4th quarter valued at $33,000. Finally, Freedom Wealth Alliance LLC acquired a new position in Pfizer in the 4th quarter valued at $35,000. 67.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PFE. Morgan Stanley cut their price target on Pfizer from $45.00 to $44.00 and set an “equal weight” rating for the company in a report on Monday, April 10th. Jefferies Financial Group began coverage on Pfizer in a report on Monday, March 6th. They issued a “hold” rating and a $43.00 price target for the company. Bank of America dropped their price objective on Pfizer from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Friday, April 21st. Cantor Fitzgerald restated an “overweight” rating on shares of Pfizer in a report on Wednesday, May 17th. Finally, Wells Fargo & Company dropped their price objective on Pfizer from $50.00 to $44.00 and set an “equal weight” rating for the company in a report on Friday, March 17th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $47.33.

Pfizer Stock Down 1.1 %

Shares of Pfizer stock opened at $38.30 on Friday. The company has a fifty day moving average price of $38.71 and a 200 day moving average price of $42.68. The company has a current ratio of 1.37, a quick ratio of 1.11 and a debt-to-equity ratio of 0.31. Pfizer Inc. has a twelve month low of $36.17 and a twelve month high of $54.93. The stock has a market cap of $216.22 billion, a price-to-earnings ratio of 7.54, a price-to-earnings-growth ratio of 1.27 and a beta of 0.64.

Pfizer (NYSE:PFE – Get Rating) last posted its quarterly earnings data 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 company had revenue of $18.28 billion during the quarter, compared to analysts’ expectations of $16.49 billion. Pfizer had a net margin of 31.25% and a return on equity of 37.53%. The firm’s revenue for the quarter was down 28.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.62 EPS. Equities research analysts forecast that Pfizer Inc. will post 3.35 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, July 28th will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $1.64 dividend on an annualized basis and a yield of 4.28%. Pfizer’s payout ratio is currently 32.28%.

Insider Buying and Selling at Pfizer

In other news, Director Scott Gottlieb acquired 1,000 shares of the firm’s stock in a transaction on Monday, May 8th. The stock was bought at an average cost of $38.58 per share, with a total value of $38,580.00. Following the transaction, the director now directly owns 6,000 shares in the company, valued at approximately $231,480. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.05% of the stock is currently owned by corporate insiders.

Pfizer Profile

(Get Rating)

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.