Pinnacle Wealth Management Advisory Group LLC Sells 17,831 Shares of Pfizer Inc. (NYSE:PFE)

Pinnacle Wealth Management Advisory Group LLC lessened its position in shares of Pfizer Inc. (NYSE:PFE) by 14.5% in the fourth quarter, Holdings Channel reports. The fund owned 105,142 shares of the biopharmaceutical company’s stock after selling 17,831 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Pfizer were worth $3,027,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its position in Pfizer by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock valued at $2,985,783,000 after purchasing an additional 8,473,686 shares during the last quarter. Morgan Stanley lifted its stake in Pfizer by 0.4% in the third quarter. Morgan Stanley now owns 84,927,802 shares of the biopharmaceutical company’s stock worth $2,817,055,000 after acquiring an additional 348,628 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Pfizer by 9.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 60,207,521 shares of the biopharmaceutical company’s stock valued at $1,997,083,000 after buying an additional 5,185,453 shares during the period. Invesco Ltd. boosted its position in Pfizer by 30.9% during the third quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock valued at $797,901,000 after purchasing an additional 5,678,004 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Pfizer by 0.6% in the 3rd quarter. California Public Employees Retirement System now owns 18,380,833 shares of the biopharmaceutical company’s stock worth $609,692,000 after buying an additional 101,256 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Up 0.9 %

Shares of NYSE PFE traded up $0.24 during mid-day trading on Thursday, hitting $28.09. The company had a trading volume of 23,001,054 shares, compared to its average volume of 43,309,836. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $40.37. The company has a market capitalization of $159.06 billion, a PE ratio of -463.76, a price-to-earnings-growth ratio of 1.17 and a beta of 0.63. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.91 and a quick ratio of 0.69. The business’s 50-day simple moving average is $26.92 and its 200 day simple moving average is $28.12.

Pfizer (NYSE:PFE) last issued its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.58%. The firm had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the previous year, the firm posted $1.23 earnings per share. The company’s revenue was down 19.5% compared to the same quarter last year. On average, analysts predict that Pfizer Inc. will post 2.39 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.98%. The ex-dividend date is Thursday, May 9th. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Monday, April 15th. BMO Capital Markets restated an “outperform” rating and issued a $36.00 target price (up previously from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Guggenheim started coverage on Pfizer in a research report on Friday, February 23rd. They issued a “buy” rating and a $36.00 target price on the stock. Morgan Stanley increased their price target on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Finally, Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.00.

About Pfizer

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.