Avidian Wealth Enterprises LLC Sells 2,080 Shares of Pfizer Inc. (NYSE:PFE)

Avidian Wealth Enterprises LLC reduced its holdings in shares of Pfizer Inc. (NYSE:PFE) by 9.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 20,240 shares of the biopharmaceutical company’s stock after selling 2,080 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Pfizer were worth $537,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PFE. CX Institutional lifted its stake in shares of Pfizer by 80.1% during the 3rd quarter. CX Institutional now owns 46,207 shares of the biopharmaceutical company’s stock worth $1,337,000 after acquiring an additional 20,552 shares during the last quarter. Creative Planning lifted its stake in shares of Pfizer by 17.1% during the 3rd quarter. Creative Planning now owns 1,820,731 shares of the biopharmaceutical company’s stock worth $52,692,000 after acquiring an additional 266,167 shares during the last quarter. Swedbank AB lifted its stake in shares of Pfizer by 0.7% during the 3rd quarter. Swedbank AB now owns 5,745,831 shares of the biopharmaceutical company’s stock worth $166,284,000 after acquiring an additional 37,636 shares during the last quarter. Sumitomo Life Insurance Co. increased its holdings in Pfizer by 2.5% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 53,470 shares of the biopharmaceutical company’s stock worth $1,547,000 after purchasing an additional 1,305 shares during the period. Finally, Vontobel Holding Ltd. raised its position in Pfizer by 11.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 551,708 shares of the biopharmaceutical company’s stock valued at $15,966,000 after purchasing an additional 57,013 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Citigroup dropped their price target on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Sanford C. Bernstein began coverage on shares of Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price on the stock. Wolfe Research began coverage on shares of Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target for the company. Truist Financial reduced their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Finally, Guggenheim restated a “buy” rating and issued a $33.00 price target on shares of Pfizer in a report on Monday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and an average target price of $31.92.

Pfizer Stock Up 0.7 %

Shares of Pfizer stock opened at $25.64 on Friday. The firm’s 50 day moving average price is $26.28 and its 200-day moving average price is $27.63. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54. The company has a market cap of $145.28 billion, a P/E ratio of 18.18, a PEG ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.15. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The firm had revenue of $17.76 billion for the quarter, compared to the consensus estimate of $17.26 billion. During the same quarter in the previous year, the firm earned $0.10 EPS. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. On average, sell-side analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 6.71%. The ex-dividend date of this dividend is Friday, January 24th. This is an increase from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s payout ratio is currently 121.99%.

Pfizer Company Profile

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