Principle Wealth Partners LLC Sells 16,141 Shares of Pfizer Inc. (NYSE:PFE)

Principle Wealth Partners LLC lowered its position in Pfizer Inc. (NYSE:PFE - Free Report) by 8.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 173,876 shares of the biopharmaceutical company's stock after selling 16,141 shares during the quarter. Principle Wealth Partners LLC's holdings in Pfizer were worth $4,406,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Clarity Asset Management Inc. bought a new position in shares of Pfizer during the 4th quarter worth approximately $27,000. Gould Capital LLC lifted its position in shares of Pfizer by 97.2% during the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 493 shares during the period. North Capital Inc. bought a new position in shares of Pfizer during the 1st quarter worth approximately $28,000. Bernard Wealth Management Corp. bought a new position in shares of Pfizer during the 4th quarter worth approximately $30,000. Finally, Horizon Financial Services LLC bought a new position in shares of Pfizer during the 1st quarter worth approximately $35,000. Institutional investors own 68.36% of the company's stock.

Pfizer Trading Up 0.1%

PFE stock traded up $0.01 during midday trading 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 fifty day moving average price is $24.26 and its 200-day moving average price is $24.70. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 1.26. The company has a market cap of $144.25 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 0.92 and a beta of 0.58. Pfizer Inc. has a one year low of $20.92 and a one year 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 EPS for the quarter, beating 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 company's quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 earnings per share. Research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared 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. The ex-dividend date is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a yield of 6.78%. Pfizer's dividend payout ratio is 124.64%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Redburn Atlantic cut their target price on Pfizer from $29.00 to $27.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Berenberg Bank dropped 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 started coverage on Pfizer in a report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price target for the company. Jefferies Financial Group raised their price target on Pfizer from $32.00 to $33.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Finally, UBS Group raised their price target on Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $28.55.

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.