Abbot Financial Management Inc. Sells 1,285 Shares of Pfizer Inc. (NYSE:PFE)

Abbot Financial Management Inc. lowered its position in Pfizer Inc. (NYSE:PFE) by 3.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 36,303 shares of the biopharmaceutical company’s stock after selling 1,285 shares during the period. Abbot Financial Management Inc.’s holdings in Pfizer were worth $1,016,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Olistico Wealth LLC purchased a new position in Pfizer during the second quarter valued at $25,000. MFA Wealth Advisors LLC bought a new stake in Pfizer during the second quarter worth about $29,000. Creekmur Asset Management LLC purchased a new stake in Pfizer in the fourth quarter worth about $32,000. Trivant Custom Portfolio Group LLC increased its stake in shares of Pfizer by 100.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 600 shares in the last quarter. Finally, Financial Connections Group Inc. purchased a new position in shares of Pfizer during the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Up 2.7 %

PFE stock opened at $30.07 on Tuesday. The business’s 50-day moving average is $29.26 and its two-hundred day moving average is $28.15. The company has a market cap of $170.40 billion, a price-to-earnings ratio of -501.08, a P/E/G ratio of 1.02 and a beta of 0.68. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $34.12. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (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 company had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter last year, the firm posted $0.67 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 5.59%. Pfizer’s dividend payout ratio (DPR) is -2,799.53%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PFE shares. Barclays raised their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company lifted their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and an average target price of $34.54.

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.