Morton Brown Family Wealth LLC Sells 1,561 Shares of Pfizer Inc. (NYSE:PFE)

Morton Brown Family Wealth LLC lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 54.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,294 shares of the biopharmaceutical company’s stock after selling 1,561 shares during the period. Morton Brown Family Wealth LLC’s holdings in Pfizer were worth $38,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PFE. Olistico Wealth LLC acquired a new position in Pfizer in the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Pfizer during the 2nd quarter worth $29,000. Creekmur Asset Management LLC acquired a new stake in shares of Pfizer during the 4th quarter worth $32,000. Trivant Custom Portfolio Group LLC grew its holdings in shares of Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares in the last quarter. Finally, Financial Connections Group Inc. acquired a new stake in shares of Pfizer during the 2nd quarter worth $34,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Trading Up 1.0 %

Shares of PFE traded up $0.29 during mid-day trading on Friday, reaching $29.01. 37,137,599 shares of the company were exchanged, compared to its average volume of 38,496,418. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $36.29. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The stock has a market capitalization of $164.39 billion, a PE ratio of -483.50, a PEG ratio of 0.98 and a beta of 0.69. The business has a 50 day simple moving average of $28.99 and a two-hundred day simple moving average of $28.01.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter last year, the firm posted $0.67 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. On average, analysts predict that Pfizer Inc. will post 2.68 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 5.79%. Pfizer’s dividend payout ratio (DPR) is presently -2,800.00%.

Analysts Set New Price Targets

PFE has been the topic of several analyst reports. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Barclays upped their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. UBS Group upped their price objective on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Monday, August 19th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and an average target price of $34.54.

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.