Prosperity Consulting Group LLC Sells 16,959 Shares of Pfizer Inc. (NYSE:PFE)

Prosperity Consulting Group LLC cut its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 22.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,574 shares of the biopharmaceutical company's stock after selling 16,959 shares during the quarter. Prosperity Consulting Group LLC's holdings in Pfizer were worth $1,554,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new position in shares of Pfizer in the fourth quarter worth $26,000. Rialto Wealth Management LLC acquired a new stake in Pfizer in the 4th quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC bought a new position in shares of Pfizer in the fourth quarter valued at approximately $28,000. Noble Wealth Management PBC bought a new stake in shares of Pfizer during the 4th quarter worth $31,000. Finally, Bernard Wealth Management Corp. acquired a new position in Pfizer during the 4th quarter worth $33,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Pfizer

In related news, Director Ronald E. Blaylock bought 19,457 shares of the business's stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $25.65 per share, with a total value of $499,072.05. Following the completion of the purchase, the director now owns 27,707 shares of the company's stock, valued at $710,684.55. This represents a 235.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by corporate insiders.

Pfizer Price Performance

PFE stock traded up $0.62 during midday trading on Wednesday, reaching $24.41. 53,842,784 shares of the company's stock traded hands, compared to its average volume of 76,188,130. The company has a 50-day simple moving average of $24.48 and a two-hundred day simple moving average of $25.86. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The company has a market cap of $138.44 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 0.64 and a beta of 0.67. Pfizer Inc. has a 1-year low of $22.51 and a 1-year high of $24.44.

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 during the quarter, compared to the consensus estimate of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The company's revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 earnings per share. On average, analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, May 9th. This represents a $1.72 annualized dividend and a yield of 7.05%. Pfizer's dividend payout ratio is currently 121.99%.

Analyst Ratings Changes

PFE has been the topic of a number of recent analyst reports. Citigroup reiterated a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. Cantor Fitzgerald started coverage on shares of Pfizer in a report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price objective on the stock. Guggenheim restated a "buy" rating on shares of Pfizer in a research note on Tuesday, March 18th. The Goldman Sachs Group reissued a "neutral" rating and set a $25.00 price objective (down previously from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Finally, Hsbc Global Res raised shares of Pfizer to a "strong-buy" rating in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Pfizer currently has an average rating of "Moderate Buy" and an average price target of $29.64.

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.