Princeton Global Asset Management LLC Sells 2,332 Shares of Pfizer Inc. $PFE

Princeton Global Asset Management LLC reduced its stake in Pfizer Inc. (NYSE:PFE) by 62.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,431 shares of the biopharmaceutical company’s stock after selling 2,332 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Pfizer were worth $35,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. GKV Capital Management Co. Inc. bought a new position in shares of Pfizer during the first quarter worth approximately $27,000. North Capital Inc. bought a new position in shares of Pfizer during the first quarter worth approximately $28,000. Bayforest Capital Ltd bought a new position in shares of Pfizer during the first quarter worth approximately $28,000. Harbor Asset Planning Inc. bought a new position in shares of Pfizer during the second quarter worth approximately $29,000. Finally, Horizon Financial Services LLC bought a new position in shares of Pfizer during the first quarter worth approximately $35,000. 68.36% of the stock is owned by institutional investors.

Pfizer Stock Performance

Shares of NYSE:PFE opened at $24.84 on Wednesday. The company’s 50 day simple moving average is $24.89 and its 200 day simple moving average is $24.13. The stock has a market capitalization of $141.23 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 0.82 and a beta of 0.55. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.85. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $29.17.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.20. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The firm had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. During the same quarter last year, the business posted $0.60 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. As a group, research analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be given a $0.43 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.72 dividend on an annualized basis and a yield of 6.9%. Pfizer’s dividend payout ratio (DPR) is currently 91.49%.

Analysts Set New Price Targets

Several brokerages have recently commented on PFE. Wall Street Zen cut shares of Pfizer from a “buy” rating to a “hold” rating in a report on Sunday, September 28th. UBS Group reaffirmed a “neutral” rating and set a $28.00 target price on shares of Pfizer in a report on Wednesday, October 1st. Citigroup lifted their price objective on shares of Pfizer from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Bank of America lifted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Pfizer in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $28.13.

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.