Kovack Advisors Inc. Has $2.18 Million Stake in Pfizer Inc. (NYSE:PFE)

Kovack Advisors Inc. lowered its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 19.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,961 shares of the biopharmaceutical company's stock after selling 20,962 shares during the quarter. Kovack Advisors Inc.'s holdings in Pfizer were worth $2,178,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Clarity Asset Management Inc. bought a new stake in shares of Pfizer in the 4th quarter valued at approximately $27,000. Gould Capital LLC lifted its holdings in Pfizer by 97.2% in the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 493 shares during the last quarter. North Capital Inc. acquired a new stake in Pfizer in the 1st quarter worth approximately $28,000. Bernard Wealth Management Corp. acquired a new stake in Pfizer in the 4th quarter worth approximately $30,000. Finally, Horizon Financial Services LLC acquired a new stake in Pfizer in the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 68.36% of the company's stock.

Pfizer Price Performance

Shares of PFE stock traded up $0.01 during trading hours on Thursday, hitting $25.37. 25,643,723 shares of the company's stock were exchanged, compared to its average volume of 38,513,248. The stock's 50-day moving average is $24.26 and its 200-day moving average is $24.70. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 0.96. The stock has a market cap of $144.25 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 0.92 and a beta of 0.58. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $31.54.

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

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 6.78%. The ex-dividend date is Friday, July 25th. Pfizer's payout ratio is 124.64%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PFE. Morgan Stanley upped their price target on Pfizer from $31.00 to $32.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Berenberg Bank cut their price target on Pfizer from $28.00 to $25.00 and set a "hold" rating for the company in a report on Thursday, May 29th. Cantor Fitzgerald began coverage on Pfizer in a report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price target for the company. TD Cowen lowered their price objective on Pfizer from $32.00 to $28.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Finally, Citigroup boosted their price objective on Pfizer from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $28.55.

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.