Spire Wealth Management Sells 4,150 Shares of Pfizer Inc. (NYSE:PFE)

Spire Wealth Management lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,835 shares of the biopharmaceutical company’s stock after selling 4,150 shares during the quarter. Spire Wealth Management’s holdings in Pfizer were worth $2,654,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BluePath Capital Management LLC bought a new position in Pfizer during the third quarter worth $45,000. Oak Asset Management LLC raised its stake in shares of Pfizer by 29.7% in the third quarter. Oak Asset Management LLC now owns 20,976 shares of the biopharmaceutical company’s stock valued at $696,000 after purchasing an additional 4,800 shares in the last quarter. DMC Group LLC lifted its position in Pfizer by 3.7% in the third quarter. DMC Group LLC now owns 23,939 shares of the biopharmaceutical company’s stock worth $794,000 after purchasing an additional 864 shares during the period. IFM Investors Pty Ltd raised its stake in shares of Pfizer by 3.2% in the 3rd quarter. IFM Investors Pty Ltd now owns 1,158,162 shares of the biopharmaceutical company’s stock valued at $38,416,000 after buying an additional 35,484 shares in the last quarter. Finally, Foyston Gordon & Payne Inc lifted its stake in Pfizer by 13.4% during the third quarter. Foyston Gordon & Payne Inc now owns 68,765 shares of the biopharmaceutical company’s stock worth $2,281,000 after purchasing an additional 8,113 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of NYSE:PFE traded up $0.24 during mid-day trading on Tuesday, reaching $28.40. The stock had a trading volume of 3,792,873 shares, compared to its average volume of 42,890,328. The firm has a 50 day simple moving average of $26.90 and a two-hundred day simple moving average of $28.14. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $40.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.91.

Pfizer (NYSE:PFE) last posted its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $14.88 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period last year, the business posted $1.23 earnings per share. The business’s revenue for the quarter was down 19.5% compared to the same quarter last year. Research analysts expect that Pfizer Inc. will post 2.39 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.92%. The ex-dividend date is Thursday, May 9th. Pfizer’s dividend payout ratio is currently -2,799.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Guggenheim initiated coverage on shares of Pfizer in a research note on Friday, February 23rd. They issued a “buy” rating and a $36.00 target price on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 price objective (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Monday, April 15th. Argus downgraded Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, Morgan Stanley raised their target price on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.00.

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.