Kovack Advisors Inc. Sells 2,253 Shares of Pfizer Inc. $PFE

Kovack Advisors Inc. cut its stake in shares of Pfizer Inc. (NYSE:PFE) by 2.6% in the second quarter, Holdings Channel reports. The fund owned 83,708 shares of the biopharmaceutical company’s stock after selling 2,253 shares during the period. Kovack Advisors Inc.’s holdings in Pfizer were worth $2,029,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Capital Advisory Group Advisory Services LLC increased its stake in shares of Pfizer by 2.9% in the second quarter. Capital Advisory Group Advisory Services LLC now owns 13,542 shares of the biopharmaceutical company’s stock valued at $328,000 after buying an additional 388 shares in the last quarter. Citizens National Bank Trust Department increased its stake in shares of Pfizer by 0.9% in the second quarter. Citizens National Bank Trust Department now owns 46,103 shares of the biopharmaceutical company’s stock valued at $1,118,000 after buying an additional 395 shares in the last quarter. Trust Co of the South increased its stake in shares of Pfizer by 1.5% in the second quarter. Trust Co of the South now owns 29,386 shares of the biopharmaceutical company’s stock valued at $712,000 after buying an additional 441 shares in the last quarter. Charter Oak Capital Management LLC increased its stake in shares of Pfizer by 4.3% in the second quarter. Charter Oak Capital Management LLC now owns 10,663 shares of the biopharmaceutical company’s stock valued at $258,000 after buying an additional 444 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in shares of Pfizer by 0.5% in the second quarter. Ballentine Partners LLC now owns 93,228 shares of the biopharmaceutical company’s stock valued at $2,260,000 after buying an additional 458 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Pfizer Stock Performance

Shares of NYSE:PFE opened at $24.30 on Friday. The stock has a market capitalization of $138.15 billion, a P/E ratio of 12.93, a P/E/G ratio of 0.81 and a beta of 0.55. Pfizer Inc. has a 1-year low of $20.92 and a 1-year high of $28.64. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average price of $24.80 and a two-hundred day moving average price of $24.25.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.20. The firm had revenue of $14.65 billion during the quarter, compared to analysts’ expectations of $13.43 billion. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 EPS. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. Equities analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.1%. Pfizer’s dividend payout ratio is 91.49%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PFE. UBS Group restated a “neutral” rating and issued a $28.00 target price on shares of Pfizer in a research note on Wednesday, October 1st. Wall Street Zen lowered Pfizer from a “buy” rating to a “hold” rating in a research note on Sunday, September 28th. Morgan Stanley lowered their target price on Pfizer from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Friday, October 10th. Weiss Ratings restated a “hold (c-)” rating on shares of Pfizer in a research note on Wednesday, October 8th. Finally, Citigroup lifted their price objective on Pfizer from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $28.13.

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.