Beaird Harris Wealth Management LLC Lowers Holdings in Pfizer Inc. (NYSE:PFE)

Posted by Defense World Staff on Jul 9th, 2023

Beaird Harris Wealth Management LLC decreased its holdings in Pfizer Inc. (NYSE:PFE – Free Report) by 6.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,085 shares of the biopharmaceutical company’s stock after selling 478 shares during the quarter. Beaird Harris Wealth Management LLC’s holdings in Pfizer were worth $289,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PFE. Lam Group Inc. purchased a new position in shares of Pfizer in the fourth quarter valued at approximately $25,000. Worth Asset Management LLC purchased a new position in Pfizer in the first quarter worth approximately $29,000. My Personal CFO LLC purchased a new position in Pfizer in the fourth quarter worth approximately $32,000. Mendota Financial Group LLC purchased a new position in Pfizer in the fourth quarter worth approximately $33,000. Finally, Freedom Wealth Alliance LLC purchased a new position in Pfizer in the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 67.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PFE. Bank of America decreased their price target on shares of Pfizer from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, April 21st. Wells Fargo & Company decreased their price target on shares of Pfizer from $50.00 to $44.00 and set an “equal weight” rating for the company in a research note on Friday, March 17th. Credit Suisse Group downgraded shares of Pfizer from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $47.00 to $40.00 in a research note on Thursday, June 29th. Morgan Stanley cut their price objective on shares of Pfizer from $45.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, April 10th. Finally, Barclays cut their price objective on shares of Pfizer from $43.00 to $40.00 in a report on Wednesday, May 3rd. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.67.

Pfizer Stock Performance

Shares of Pfizer stock opened at $35.53 on Friday. The firm’s fifty day simple moving average is $38.03 and its 200-day simple moving average is $41.57. The stock has a market capitalization of $200.58 billion, a price-to-earnings ratio of 6.99, a PEG ratio of 1.18 and a beta of 0.61. Pfizer Inc. has a 12 month low of $35.35 and a 12 month high of $54.93. 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 (NYSE:PFE – Free Report) last announced 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. The business had revenue of $18.28 billion for 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 company’s quarterly revenue was down 28.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.62 EPS. As a group, equities analysts forecast that Pfizer Inc. will post 3.35 earnings per share for the current 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 dividend of $0.41 per share. 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 4.62%. Pfizer’s payout ratio is currently 32.28%.

Insiders Place Their Bets

In other news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction on Monday, May 8th. The stock was bought at an average price of $38.58 per share, for a total transaction of $38,580.00. Following the transaction, the director now owns 6,000 shares in the company, valued at $231,480. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.05% of the stock is owned by insiders.

Pfizer 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.