Altman Advisors Inc. Lowers Stock Holdings in Pfizer Inc. (NYSE:PFE)

Altman Advisors Inc. cut its position in shares of Pfizer Inc. (NYSE:PFEGet Rating) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,144 shares of the biopharmaceutical company’s stock after selling 259 shares during the quarter. Altman Advisors Inc.’s holdings in Pfizer were worth $1,561,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. Checchi Capital Advisers LLC raised its stake in Pfizer by 5.4% during the first quarter. Checchi Capital Advisers LLC now owns 65,230 shares of the biopharmaceutical company’s stock valued at $3,377,000 after buying an additional 3,333 shares in the last quarter. Capital Advisors Wealth Management LLC lifted its position in shares of Pfizer by 44.2% during the 1st quarter. Capital Advisors Wealth Management LLC now owns 6,077 shares of the biopharmaceutical company’s stock valued at $315,000 after acquiring an additional 1,863 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Pfizer by 9.5% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 2,950,948 shares of the biopharmaceutical company’s stock valued at $152,771,000 after purchasing an additional 256,041 shares in the last quarter. Tredje AP fonden increased its stake in shares of Pfizer by 0.5% in the first quarter. Tredje AP fonden now owns 524,795 shares of the biopharmaceutical company’s stock worth $27,169,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Summit Asset Management LLC increased its position in Pfizer by 3.6% during the first quarter. Summit Asset Management LLC now owns 25,213 shares of the biopharmaceutical company’s stock worth $1,305,000 after buying an additional 875 shares during the last quarter. 66.50% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PFE. SVB Leerink lowered their price target on shares of Pfizer from $55.00 to $53.00 and set a “market perform” rating for the company in a report on Friday, July 29th. Wells Fargo & Company cut their price target on shares of Pfizer from $60.00 to $55.00 in a report on Wednesday, May 4th. StockNews.com upgraded shares of Pfizer from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 19th. Barclays lifted their price objective on shares of Pfizer from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, JPMorgan Chase & Co. set a $57.00 price objective on shares of Pfizer in a research report on Tuesday, June 28th. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $57.50.

Insider Activity

In related news, SVP Jennifer B. Damico sold 4,218 shares of the stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $53.96, for a total transaction of $227,603.28. Following the transaction, the senior vice president now directly owns 10,846 shares in the company, valued at $585,250.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Jennifer B. Damico sold 4,218 shares of the firm’s stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $53.96, for a total value of $227,603.28. Following the sale, the senior vice president now directly owns 10,846 shares in the company, valued at approximately $585,250.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP William R. Carapezzi, Jr. sold 32,908 shares of Pfizer stock in a transaction on Thursday, May 12th. The stock was sold at an average price of $50.00, for a total value of $1,645,400.00. Following the completion of the transaction, the executive vice president now owns 38,146 shares in the company, valued at $1,907,300. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,126 shares of company stock valued at $2,075,003. Company insiders own 0.05% of the company’s stock.

Pfizer Price Performance

NYSE:PFE traded down $0.51 during trading hours on Friday, hitting $49.35. 395,107 shares of the stock traded hands, compared to its average volume of 16,919,380. The company has a market cap of $276.90 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 0.61 and a beta of 0.67. The company has a quick ratio of 1.13, a current ratio of 1.39 and a debt-to-equity ratio of 0.43. Pfizer Inc. has a 1 year low of $40.94 and a 1 year high of $61.71. The stock has a 50 day moving average price of $51.18 and a 200 day moving average price of $51.14.

Pfizer (NYSE:PFEGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.09. Pfizer had a net margin of 28.92% and a return on equity of 44.38%. The firm had revenue of $27.74 billion for the quarter, compared to the consensus estimate of $26.20 billion. During the same quarter in the prior year, the company posted $1.07 earnings per share. The company’s revenue for the quarter was up 46.8% compared to the same quarter last year. Sell-side analysts forecast that Pfizer Inc. will post 6.54 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 6th. Shareholders of record on Wednesday, June 29th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.24%. The ex-dividend date is Thursday, July 28th. Pfizer’s dividend payout ratio (DPR) is 31.31%.

About Pfizer

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Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and women's health under the Premarin family and Eliquis brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines, and oral COVID-19 treatment under the Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga, and Paxlovid brands.

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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