Provence Wealth Management Group Has $261,000 Position in Pfizer Inc. (NYSE:PFE)

Provence Wealth Management Group raised its stake in shares of Pfizer Inc. (NYSE:PFE) by 4.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,056 shares of the biopharmaceutical company’s stock after purchasing an additional 397 shares during the period. Provence Wealth Management Group’s holdings in Pfizer were worth $261,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Briaud Financial Planning Inc bought a new position in Pfizer in the 3rd quarter worth $30,000. GoalVest Advisory LLC grew its position in shares of Pfizer by 304.9% in the fourth quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 811 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new position in shares of Pfizer in the third quarter worth about $34,000. VisionPoint Advisory Group LLC lifted its position in shares of Pfizer by 52,350.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,049 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new stake in Pfizer during the 4th quarter valued at approximately $36,000. Institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

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

Pfizer Price Performance

Pfizer stock traded up $0.11 during mid-day trading on Friday, hitting $27.81. 60,568,852 shares of the company were exchanged, compared to its average volume of 41,900,304. The company has a market capitalization of $157.48 billion, a PE ratio of -463.42, a price-to-earnings-growth ratio of 1.18 and a beta of 0.63. The business has a fifty day moving average of $26.88 and a 200 day moving average of $28.21. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $40.37. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69.

Pfizer (NYSE:PFE) last announced its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (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 business had revenue of $14.88 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter last year, the company posted $1.23 EPS. The firm’s revenue for the quarter was down 19.5% on a year-over-year basis. As a group, sell-side analysts expect that Pfizer Inc. will post 2.36 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 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s dividend payout ratio (DPR) is currently -2,799.53%.

Pfizer 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.