Institute for Wealth Management LLC. decreased its position in shares of Pfizer Inc. (NYSE:PFE) by 1.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,832 shares of the biopharmaceutical company’s stock after selling 730 shares during the period. Institute for Wealth Management LLC.’s holdings in Pfizer were worth $1,499,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Corbett Road Capital Management LLC acquired a new position in Pfizer in the second quarter worth approximately $25,000. New England Investment & Retirement Group Inc. acquired a new position in Pfizer in the first quarter worth approximately $26,000. Lion Street Advisors LLC acquired a new position in Pfizer in the first quarter worth approximately $27,000. Reitz Capital Advisors LLC acquired a new position in Pfizer in the second quarter worth approximately $29,000. Finally, Benjamin Edwards Inc. grew its position in Pfizer by 49.8% in the first quarter. Benjamin Edwards Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 335 shares during the last quarter. 70.20% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Pfizer stock traded down $0.26 on Friday, hitting $38.48. 27,042,691 shares of the company traded hands, compared to its average volume of 32,108,124. The company has a 50-day moving average price of $34.75 and a 200 day moving average price of $35.79. The company has a quick ratio of 0.78, a current ratio of 1.02 and a debt-to-equity ratio of 0.56. Pfizer Inc. has a 12-month low of $27.88 and a 12-month high of $40.97. The company has a market cap of $213.75 billion, a PE ratio of 15.27, a PEG ratio of 3.12 and a beta of 0.68.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, July 31st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Thursday, July 30th. Pfizer’s dividend payout ratio is currently 51.53%.
In other news, SVP Jennifer B. Damico sold 2,181 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $36.13, for a total transaction of $78,799.53. Following the transaction, the senior vice president now directly owns 7,542 shares in the company, valued at approximately $272,492.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.08% of the company’s stock.
PFE has been the topic of several recent research reports. ValuEngine lowered shares of Pfizer from a “hold” rating to a “sell” rating in a research report on Thursday. Piper Sandler lifted their price target on shares of Pfizer from $18.50 to $24.00 in a research report on Friday, June 26th. Royal Bank of Canada reiterated a “buy” rating and set a $43.00 price objective on shares of Pfizer in a research report on Monday, July 20th. JPMorgan Chase & Co. lowered their price objective on shares of Pfizer from $37.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, June 1st. Finally, Mizuho reiterated a “buy” rating and set a $38.00 price objective on shares of Pfizer in a research report on Tuesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.95.
Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It offers medicines and vaccines in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases under the Lyrica, Chantix/Champix, Eliquis, Ibrance, Sutent, Xalkori, Inlyta, Xtandi, Enbrel, Xeljanz, Eucrisa, BeneFix, Genotropin, and Refacto AF/Xyntha brands.
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