Marcum Wealth LLC Sells 335 Shares of Pfizer Inc. (NYSE:PFE)

Posted by Defense World Staff on Jul 3rd, 2023

Marcum Wealth LLC reduced its position in Pfizer Inc. (NYSE:PFE – Free Report) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,841 shares of the biopharmaceutical company’s stock after selling 335 shares during the quarter. Marcum Wealth LLC’s holdings in Pfizer were worth $1,421,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its holdings in shares of Pfizer by 0.6% in the first quarter. Louisiana State Employees Retirement System now owns 364,900 shares of the biopharmaceutical company’s stock worth $14,888,000 after purchasing an additional 2,200 shares during the last quarter. SOL Capital Management CO increased its position in shares of Pfizer by 24.1% during the first quarter. SOL Capital Management CO now owns 54,214 shares of the biopharmaceutical company’s stock worth $2,212,000 after acquiring an additional 10,538 shares during the period. Close Asset Management Ltd purchased a new stake in shares of Pfizer in the first quarter valued at approximately $13,217,000. Proficio Capital Partners LLC increased its holdings in Pfizer by 2,262.0% during the 1st quarter. Proficio Capital Partners LLC now owns 859,371 shares of the biopharmaceutical company’s stock worth $1,416,000 after purchasing an additional 822,988 shares during the period. Finally, Wendell David Associates Inc. raised its position in Pfizer by 2.2% during the 1st quarter. Wendell David Associates Inc. now owns 57,494 shares of the biopharmaceutical company’s stock valued at $2,346,000 after purchasing an additional 1,230 shares in the last quarter. Institutional investors own 67.80% of the company’s stock.

Insiders Place Their Bets

In related news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction dated Monday, May 8th. The shares were purchased at an average price of $38.58 per share, for a total transaction of $38,580.00. Following the completion of the purchase, the director now directly owns 6,000 shares of the company’s stock, valued at $231,480. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.05% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PFE shares. UBS Group lowered their price objective on shares of Pfizer from $41.00 to $39.00 in a research note on Friday, May 5th. Credit Suisse Group downgraded shares of Pfizer from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $47.00 to $40.00 in a research note on Thursday. Barclays dropped their target price on Pfizer from $43.00 to $40.00 in a research report on Wednesday, May 3rd. Wells Fargo & Company reduced their price target on Pfizer from $50.00 to $44.00 and set an “equal weight” rating for the company in a research report on Friday, March 17th. Finally, Daiwa Capital Markets downgraded Pfizer from an “outperform” rating to a “neutral” rating and set a $38.00 price objective on the stock. in a research report on Thursday, May 11th. Eleven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.67.

Pfizer Trading Up 1.6 %

NYSE:PFE opened at $36.68 on Monday. The company has a current ratio of 1.37, a quick ratio of 1.11 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $38.32 and a 200-day simple moving average of $42.05. Pfizer Inc. has a 12 month low of $35.76 and a 12 month high of $54.93. The company has a market capitalization of $207.07 billion, a P/E ratio of 7.22, a PEG ratio of 1.22 and a beta of 0.61.

Pfizer (NYSE:PFE – Free Report) last issued its earnings results on Tuesday, May 2nd. The biopharmaceutical company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.23. Pfizer had a return on equity of 37.53% and a net margin of 31.25%. The firm had revenue of $18.28 billion for the quarter, compared to analyst estimates of $16.49 billion. During the same quarter in the prior year, the firm earned $1.62 earnings per share. Pfizer’s revenue for the quarter was down 28.8% on a year-over-year basis. On average, equities research analysts anticipate that Pfizer Inc. will post 3.35 earnings per share for the current year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, July 28th will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, July 27th. This represents a $1.64 dividend on an annualized basis and a yield of 4.47%. Pfizer’s dividend payout ratio is presently 32.28%.

Pfizer Company Profile

(Free Report)

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.