Legacy Financial Advisors Inc. Has $699,000 Stock Position in Pfizer Inc. (NYSE:PFE)

Legacy Financial Advisors Inc. lessened its stake in Pfizer Inc. (NYSE:PFE) by 8.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,287 shares of the biopharmaceutical company’s stock after selling 2,291 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Pfizer were worth $699,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Pfizer by 10.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock worth $3,161,261,000 after acquiring an additional 9,393,992 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Pfizer by 30.9% in 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 during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Pfizer by 9.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 60,207,521 shares of the biopharmaceutical company’s stock worth $1,997,083,000 after buying an additional 5,185,453 shares during the last quarter. Bank of Nova Scotia boosted its holdings in shares of Pfizer by 219.4% during the 3rd quarter. Bank of Nova Scotia now owns 5,503,983 shares of the biopharmaceutical company’s stock worth $182,567,000 after buying an additional 3,780,696 shares during the period. Finally, Van ECK Associates Corp grew its stake in Pfizer by 33.6% in the 4th quarter. Van ECK Associates Corp now owns 12,984,150 shares of the biopharmaceutical company’s stock valued at $373,813,000 after buying an additional 3,265,276 shares during the last quarter. 68.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on PFE shares. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Monday, April 15th. Morgan Stanley boosted their target price on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday. BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 price target (up from $33.00) on shares of Pfizer in a research report on Thursday. Guggenheim initiated coverage on shares of Pfizer in a report on Friday, February 23rd. They issued a “buy” rating and a $36.00 price objective for the company. Finally, Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $36.00.

Pfizer Trading Up 0.4 %

Pfizer stock traded up $0.11 during trading hours on Friday, hitting $27.81. The stock had a trading volume of 60,568,852 shares, compared to its average volume of 41,900,304. The stock has a market cap of $157.48 billion, a price-to-earnings ratio of -463.42, a P/E/G ratio of 1.18 and a beta of 0.63. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69. The business’s 50 day simple moving average is $26.88 and its 200-day simple moving average is $28.21. Pfizer Inc. has a one year low of $25.20 and a one year high of $40.37.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, beating 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 business had revenue of $14.88 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter last year, the business earned $1.23 EPS. The firm’s quarterly revenue was down 19.5% on a year-over-year basis. On average, equities analysts predict that Pfizer Inc. will post 2.36 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 6.04%. The ex-dividend date is Thursday, May 9th. Pfizer’s dividend payout ratio is currently -2,799.53%.

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.