Seed Wealth Management Inc. Lowers Stock Holdings in Pfizer Inc. (NYSE:PFE)

Posted by Defense World Staff on Jul 10th, 2023

Seed Wealth Management Inc. lessened its stake in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 21.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,985 shares of the biopharmaceutical company’s stock after selling 1,600 shares during the quarter. Seed Wealth Management Inc.’s holdings in Pfizer were worth $244,000 at the end of the most recent quarter.

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

Pfizer Trading Down 0.3 %

Pfizer stock opened at $35.53 on Monday. The stock has a 50-day moving average price of $38.03 and a 200 day moving average price of $41.50. Pfizer Inc. has a 52 week low of $35.35 and a 52 week high of $54.93. The stock has a market cap of $200.58 billion, a PE ratio of 6.99, a P/E/G ratio of 1.18 and a beta of 0.61. 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 (NYSE:PFE – Free Report) last issued its quarterly earnings results on Tuesday, May 2nd. The biopharmaceutical company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.23. The business had revenue of $18.28 billion during 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%. The company’s quarterly revenue was down 28.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.62 earnings per share. Equities research analysts predict that Pfizer Inc. will post 3.35 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, July 28th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date is Thursday, July 27th. Pfizer’s dividend payout ratio is presently 32.28%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PFE shares. Daiwa Capital Markets lowered 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. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Pfizer in a research note on Wednesday, May 17th. UBS Group reduced their price objective on shares of Pfizer from $41.00 to $39.00 in a research note on Friday, May 5th. Morgan Stanley lowered their target price on shares of Pfizer from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, April 10th. Finally, Barclays dropped their target price on shares of Pfizer from $43.00 to $40.00 in a report on Wednesday, May 3rd. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $46.67.

Insider Transactions at Pfizer

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was purchased at an average cost of $38.58 per share, for a total transaction of $38,580.00. Following the completion of the purchase, the director now owns 6,000 shares of the company’s stock, valued at approximately $231,480. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.05% of the company’s stock.

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.