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

Cahaba Wealth Management Inc. reduced its position in Pfizer Inc. (NYSE:PFE) by 18.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 6,914 shares of the biopharmaceutical company’s stock after selling 1,531 shares during the period. Cahaba Wealth Management Inc.’s holdings in Pfizer were worth $200,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Olistico Wealth LLC purchased a new stake in Pfizer in the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC purchased a new stake in Pfizer in the 2nd quarter worth approximately $29,000. Quarry LP purchased a new stake in Pfizer in the 2nd quarter worth approximately $31,000. Trivant Custom Portfolio Group LLC grew its stake in Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 600 shares during the period. Finally, Financial Connections Group Inc. purchased a new stake in shares of Pfizer during the 2nd quarter valued at $34,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Thursday, October 3rd. Wells Fargo & Company boosted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group boosted their price objective on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.91.

Pfizer Stock Down 0.2 %

PFE stock traded down $0.05 during trading on Friday, reaching $29.22. The stock had a trading volume of 24,244,872 shares, compared to its average volume of 37,106,250. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $31.54. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $165.58 billion, a P/E ratio of -487.17, a PEG ratio of 1.02 and a beta of 0.67. The firm has a fifty day moving average price of $29.07 and a 200 day moving average price of $28.44.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same quarter in the previous year, the business posted $0.67 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.75%. Pfizer’s dividend payout ratio (DPR) is presently -2,800.00%.

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.