On June 19, 2023, Revolve Wealth Partners LLC announced that they had reduced their holdings in Pfizer Inc. (NYSE:PFE) by 14.0%. This news was revealed in a recent 13F filing with the Securities and Exchange Commission. The fund initially owned 22,368 shares of the biopharmaceutical company’s stock, but sold off 3,129 shares during the first quarter of the year. As a result, Revolve Wealth Partners LLC’s current shares in Pfizer amount to a total value of $785,000.
Pfizer is known for manufacturing some of the most well-known medications that are used today, such as Viagra and Lipitor. They recently announced a quarterly dividend payout on Friday, June 9th that was given out to investors on record from May 12th. Investors received a dividend of $0.41 per share which represents an annualized dividend of $1.64 and a yield of about 4.09%.
Pfizer has been reviewed by several equities analysts in recent weeks including Daiwa Capital Markets who downgraded their rating from “outperform” to “neutral”. This move came after PFE stocks dropped in price following some disappointing industry news last month concerning patent approval for certain drugs.
Jefferies Financial Group covered shares of Pfizer back in March and issued a “hold” rating coupled with a price target of $43 per share while StockNews.com assumed coverage on May 18th and issued a “buy” rating for PFE stocks currently trading at around $40 per share.
JPMorgan Chase & Co set its price target at $45 earlier this year while UBS Group lowered its estimate from $41 to $39 this past May as well.
Overall PFE currently holds nine holds ratings alongside five buy ratings with Bloomberg.com confirming these numbers reflect an average consensus rating of “Hold”alongside an average target estimate of $47.33 per share.
Despite recent market volatility, Pfizer remains a significant company in the commercial brine living up to its reputable position as one of the world’s largest pharmaceutical behemoths. Moving ahead, analyst predict this trend will continue and the prospects for future valuations are strong, despite any setbacks that may be encountered along the way.
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Pfizer Inc.’s Recent Transactions and Dividend Payouts: An Overview
Pfizer Inc.: A Look at the Recent Transactions and Dividend Payouts
Pfizer Inc. has been in the news recently due to various transactions made by institutional investors, insiders, and a quarterly dividend payout. Various hedge funds including Allred Capital Management LLC, BancFirst Trust & Investment Management, Harbor Investment Advisory LLC, Range Financial Group LLC, and Secure Asset Management have added to or reduced their stakes in Pfizer.
Harbor Investment Advisory LLC boosted its stake in Pfizer by 3.6% in the fourth quarter of 2022 while BancFirst Trust & Investment Management added 2.3% to its stake during the first quarter of 2023. Similarly, Secure Asset Management increased its stake by 3.5%, Range Financial Group boosted its stake by 2.8%, and Allred Capital Management purchased an additional 1.9% during the last quarter of 2022.
The latest transaction was made by Director Scott Gottlieb on May 5th when he bought 1,000 shares of Pfizer’s stock at an average cost of $38.42 per share for a total transaction value of $38,420.00. Following the purchase, Gottlieb now owns 5,000 shares with a value of $192,100.
Moreover, Pfizer recently paid out its quarterly dividend to investors on June 9th paying out a sum of $0.41 per share to investors who were on record as of May 12th with an ex-dividend date of May 11th. This represents a $1.64 annualized dividend with a yield of 4.09%. Pfizer’s dividend payout ratio is presently at a low level of just over one third (32.28%).
Pfizer opened at $40.06 on Monday and currently has a market cap of $226.15 billion with a P/E ratio of just under eight (7.89), a PEG ratio of 1.33 and a beta of 0.64. Pfizer has a high-low range of $54.93 and $36.17 over the last twelve months with its fifty-day moving average price at $38.96 and the two-hundred-day moving average price at $43.03.
On May 2nd, Pfizer also released its quarterly earnings results reporting an EPS (earnings per share) of $1.23 for the quarter, beating the consensus estimate of one dollar by twenty-three cents ($0.23). The firm had revenue totalling $18.28 billion which was higher than analyst expectations of $16.49 billion.
Overall, institutional investors, insiders, and recent dividend payouts suggest that Pfizer’s shareholders are benefitting from transactions made by hedge funds while also receiving solid returns through dividends paid out by the company itself.