Pfizer Inc. (NYSE:PFE) Shares Sold by Transcend Capital Advisors LLC

by · The Markets Daily

Transcend Capital Advisors LLC decreased its stake in Pfizer Inc. (NYSE:PFE – Free Report) by 18.6% in the 1st quarter, Holdings Channel reports. The firm owned 123,586 shares of the biopharmaceutical company’s stock after selling 28,283 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Pfizer were worth $3,132,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Park Place Capital Corp raised its stake in shares of Pfizer by 74.0% during the 1st quarter. Park Place Capital Corp now owns 13,204 shares of the biopharmaceutical company’s stock worth $335,000 after buying an additional 5,616 shares during the last quarter. Diversified Trust Co raised its holdings in shares of Pfizer by 1.9% in the first quarter. Diversified Trust Co now owns 106,802 shares of the biopharmaceutical company’s stock worth $2,706,000 after acquiring an additional 1,984 shares during the last quarter. Beacon Financial Advisory LLC raised its holdings in shares of Pfizer by 17.1% in the first quarter. Beacon Financial Advisory LLC now owns 48,437 shares of the biopharmaceutical company’s stock worth $1,227,000 after acquiring an additional 7,074 shares during the last quarter. First Merchants Corp raised its holdings in shares of Pfizer by 21.9% in the first quarter. First Merchants Corp now owns 30,884 shares of the biopharmaceutical company’s stock worth $783,000 after acquiring an additional 5,548 shares during the last quarter. Finally, Perpetual Ltd raised its stake in Pfizer by 10.6% in the 1st quarter. Perpetual Ltd now owns 136,764 shares of the biopharmaceutical company’s stock valued at $3,466,000 after purchasing an additional 13,060 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PFE. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. Cantor Fitzgerald began coverage on Pfizer in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $24.00 price target for the company. Citigroup reiterated a “neutral” rating on shares of Pfizer in a research note on Thursday, March 27th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $25.00 price objective (down previously from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. Finally, Guggenheim restated a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

Get Our Latest Analysis on PFE

Pfizer Trading Up 0.2%

Pfizer stock opened at $24.30 on Friday. 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 firm’s 50-day moving average is $23.42 and its 200-day moving average is $24.85. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $31.54. The company has a market cap of $138.18 billion, a P/E ratio of 17.61, a PEG ratio of 0.88 and a beta of 0.57.

Pfizer (NYSE:PFE – Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $14.43 billion. During the same quarter last year, the business posted $0.82 EPS. The business’s revenue was down 7.8% on a year-over-year basis. On average, equities analysts expect that Pfizer Inc. will post 2.95 earnings per share 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 dividend on an annualized basis and a yield of 7.08%. The ex-dividend date of this dividend is Friday, July 25th. Pfizer’s payout ratio is 124.64%.

About Pfizer

(Free Report)

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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