Salvus Wealth Management LLC Decreases Holdings in Pfizer Inc. (NYSE:PFE)

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Salvus Wealth Management LLC trimmed its position in shares of Pfizer Inc. (NYSE:PFEGet Rating) by 34.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,885 shares of the biopharmaceutical company’s stock after selling 9,274 shares during the period. Salvus Wealth Management LLC’s holdings in Pfizer were worth $926,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PFE. Baltimore Washington Financial Advisors Inc. purchased a new position in Pfizer in the 4th quarter worth approximately $290,000. PYA Waltman Capital LLC purchased a new position in Pfizer in the 4th quarter worth approximately $31,000. Econ Financial Services Corp purchased a new position in Pfizer in the 4th quarter worth approximately $31,000. Rinkey Investments purchased a new position in Pfizer in the 4th quarter worth approximately $32,000. Finally, Bivin & Associates Inc. purchased a new position in Pfizer in the 4th quarter worth approximately $37,000. 66.50% of the stock is currently owned by institutional investors.

Shares of Pfizer stock opened at $49.07 on Thursday. Pfizer Inc. has a twelve month low of $38.82 and a twelve month high of $61.71. The business has a 50-day moving average price of $50.57 and a 200 day moving average price of $52.22. The company has a quick ratio of 1.13, a current ratio of 1.39 and a debt-to-equity ratio of 0.43. The firm has a market cap of $275.33 billion, a PE ratio of 11.25, a P/E/G ratio of 0.56 and a beta of 0.76.

Pfizer (NYSE:PFEGet Rating) last issued its quarterly earnings results on Tuesday, May 3rd. The biopharmaceutical company reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.04). Pfizer had a return on equity of 38.29% and a net margin of 26.97%. The firm had revenue of $25.66 billion during the quarter, compared to analyst estimates of $24.73 billion. During the same period in the prior year, the firm earned $0.93 earnings per share. The business’s revenue was up 76.8% on a year-over-year basis. On average, sell-side analysts expect that Pfizer Inc. will post 6.61 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Friday, May 13th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Thursday, May 12th. Pfizer’s dividend payout ratio (DPR) is 36.70%.

In other Pfizer news, EVP William R. Carapezzi, Jr. sold 32,908 shares of the stock in a transaction dated Thursday, May 12th. The shares were sold at an average price of $50.00, for a total transaction of $1,645,400.00. Following the completion of the transaction, the executive vice president now owns 38,146 shares of the company’s stock, valued at $1,907,300. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jennifer B. Damico sold 4,218 shares of the stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $53.96, for a total transaction of $227,603.28. Following the transaction, the senior vice president now directly owns 10,846 shares of the company’s stock, valued at approximately $585,250.16. The disclosure for this sale can be found here. Insiders sold 41,126 shares of company stock valued at $2,075,003 over the last quarter. Company insiders own 0.05% of the company’s stock.

A number of brokerages have commented on PFE. StockNews.com raised Pfizer from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 19th. Citigroup boosted their target price on Pfizer from $46.00 to $57.00 and gave the stock a “neutral” rating in a report on Tuesday, April 5th. The Goldman Sachs Group set a $51.00 price target on Pfizer in a research note on Wednesday, May 25th. JPMorgan Chase & Co. set a $57.00 price objective on Pfizer in a research report on Tuesday, May 3rd. Finally, Barclays set a $52.00 price target on Pfizer in a report on Tuesday, May 17th. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and a consensus target price of $57.26.

About Pfizer (Get Rating)

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and women’s health under the Premarin family and Eliquis brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines, and oral COVID-19 treatment under the Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga, and Paxlovid brands.

Further Reading

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