Avantax Planning Partners Inc. Sells 18,410 Shares of Pfizer Inc. (NYSE:PFE)

by · The Markets Daily

Avantax Planning Partners Inc. cut its holdings in Pfizer Inc. (NYSE:PFE – Free Report) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 247,607 shares of the biopharmaceutical company’s stock after selling 18,410 shares during the period. Avantax Planning Partners Inc.’s holdings in Pfizer were worth $6,569,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PFE. Retirement Wealth Solutions LLC bought a new stake in Pfizer during the fourth quarter valued at about $26,000. Rialto Wealth Management LLC bought a new position in shares of Pfizer during the 4th quarter valued at approximately $26,000. Gladius Capital Management LP increased its holdings in Pfizer by 102.8% in the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 38,015 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in Pfizer during the 4th quarter worth approximately $28,000. Finally, Noble Wealth Management PBC purchased a new position in Pfizer during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Trading Down 0.4 %

Shares of PFE stock opened at $26.62 on Tuesday. The company has a market cap of $150.89 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 0.64 and a beta of 0.61. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. The stock’s 50 day simple moving average is $26.30 and its two-hundred day simple moving average is $27.21. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

Pfizer (NYSE:PFE – Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.15. The business had revenue of $17.76 billion for the quarter, compared to analysts’ expectations of $17.26 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business’s revenue was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share. Research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, January 24th were paid a dividend of $0.43 per share. This is a boost from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.46%. Pfizer’s dividend payout ratio is currently 121.99%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PFE shares. Truist Financial lowered their target price on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Wolfe Research began coverage on Pfizer in a research note on Friday, November 15th. They set an “underperform” rating and a $25.00 target price on the stock. UBS Group dropped their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Bank of America reiterated a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.92.

View Our Latest Research Report on Pfizer

Insider Transactions at Pfizer

In other Pfizer news, Director Ronald E. Blaylock acquired 19,457 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were bought at an average price of $25.65 per share, with a total value of $499,072.05. Following the transaction, the director now directly owns 27,707 shares of the company’s stock, valued at $710,684.55. The trade was a 235.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.06% of the company’s stock.

Pfizer Company Profile

(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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