Fragasso Group Inc. Sells 1,321 Shares of Pfizer Inc. (NYSE:PFE)

Fragasso Group Inc. lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 3.5% during the 1st quarter, Holdings Channel.com reports. The fund owned 36,161 shares of the biopharmaceutical company’s stock after selling 1,321 shares during the quarter. Fragasso Group Inc.’s holdings in Pfizer were worth $1,003,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aprio Wealth Management LLC grew its holdings in shares of Pfizer by 7.2% in the first quarter. Aprio Wealth Management LLC now owns 42,521 shares of the biopharmaceutical company’s stock worth $1,180,000 after acquiring an additional 2,857 shares during the period. Nexus Investment Management ULC grew its stake in shares of Pfizer by 12.2% during the 1st quarter. Nexus Investment Management ULC now owns 833,846 shares of the biopharmaceutical company’s stock valued at $23,139,000 after acquiring an additional 90,470 shares during the period. PPS&V Asset Management Consultants Inc. bought a new position in shares of Pfizer in the first quarter worth approximately $316,000. Greenfield Savings Bank raised its position in shares of Pfizer by 1.3% during the 1st quarter. Greenfield Savings Bank now owns 43,091 shares of the biopharmaceutical company’s stock valued at $1,196,000 after purchasing an additional 568 shares during the period. Finally, SOA Wealth Advisors LLC. boosted its holdings in Pfizer by 11.8% in the 1st quarter. SOA Wealth Advisors LLC. now owns 15,163 shares of the biopharmaceutical company’s stock worth $421,000 after buying an additional 1,595 shares during the period. Institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

NYSE:PFE opened at $27.75 on Friday. The firm has a market capitalization of $157.22 billion, a price-to-earnings ratio of -462.34, a PEG ratio of 1.09 and a beta of 0.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78. The business has a 50 day simple moving average of $27.67 and a 200-day simple moving average of $27.72. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $38.99.

Pfizer (NYSE:PFE) last issued its quarterly 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. The company had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. Pfizer’s revenue was down 19.5% on a year-over-year basis. During the same period last year, the company earned $1.23 earnings per share. Equities analysts forecast that Pfizer Inc. will post 2.38 EPS for the current year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 10th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.68 annualized dividend and a yield of 6.06%. Pfizer’s payout ratio is -2,799.53%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PFE shares. Morgan Stanley upped their price objective on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Monday, June 17th. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 price target (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Finally, Guggenheim started coverage on shares of Pfizer in a report on Friday, February 23rd. They set a “buy” rating and a $36.00 price objective for the company. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Pfizer currently has a consensus rating of “Hold” and an average target price of $35.86.

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.