Essex Financial Services Inc. Sells 31,049 Shares of Pfizer Inc. (NYSE:PFE)

Essex Financial Services Inc. lessened its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 13.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 199,286 shares of the biopharmaceutical company's stock after selling 31,049 shares during the period. Essex Financial Services Inc.'s holdings in Pfizer were worth $5,050,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rialto Wealth Management LLC bought a new stake in Pfizer during the fourth quarter worth about $26,000. Clarity Asset Management Inc. bought a new stake in Pfizer in the fourth quarter valued at approximately $27,000. Gould Capital LLC lifted its position in shares of Pfizer by 97.2% in the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 493 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of Pfizer during the 4th quarter worth approximately $28,000. Finally, Bernard Wealth Management Corp. bought a new position in shares of Pfizer during the 4th quarter worth approximately $30,000. Institutional investors own 68.36% of the company's stock.

Analyst Ratings Changes

PFE has been the subject of several research analyst reports. The Goldman Sachs Group reiterated a "neutral" rating and set a $25.00 target price (down from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. Guggenheim reiterated a "buy" rating on shares of Pfizer in a research note on Tuesday, March 18th. Citigroup reiterated a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. Cantor Fitzgerald initiated coverage on Pfizer in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 target price for the company. Finally, UBS Group lifted their target price on Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $29.17.

Pfizer Price Performance

Shares of NYSE PFE opened at $24.20 on Friday. The firm has a market cap of $137.56 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 0.88 and a beta of 0.57. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64. Pfizer Inc. has a 1-year low of $20.92 and a 1-year high of $31.54. The business's 50 day moving average is $23.46 and its 200-day moving average is $24.84.

Pfizer (NYSE:PFE - Get Free Report) last announced its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.25. The company had revenue of $13.72 billion for the quarter, compared to analyst estimates of $14.43 billion. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. The firm's quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.82 earnings per share. Equities research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 7.11%. The ex-dividend date is Friday, July 25th. Pfizer's dividend payout ratio is currently 124.64%.

Pfizer 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.

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