Arcadia Investment Management Corp MI Decreases Stock Position in Pfizer Inc. (NYSE:PFE)

Arcadia Investment Management Corp MI trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 54.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,220 shares of the biopharmaceutical company’s stock after selling 6,325 shares during the period. Arcadia Investment Management Corp MI’s holdings in Pfizer were worth $150,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PFE. Trifecta Capital Advisors LLC grew its position in Pfizer by 3.7% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 9,197 shares of the biopharmaceutical company’s stock worth $305,000 after purchasing an additional 325 shares during the period. Confluence Wealth Services Inc. lifted its holdings in Pfizer by 0.5% in the third quarter. Confluence Wealth Services Inc. now owns 65,053 shares of the biopharmaceutical company’s stock valued at $2,158,000 after acquiring an additional 342 shares during the period. Carr Financial Group Corp boosted its position in Pfizer by 3.3% in the third quarter. Carr Financial Group Corp now owns 11,012 shares of the biopharmaceutical company’s stock worth $344,000 after purchasing an additional 355 shares during the last quarter. Lafayette Investments Inc. boosted its position in Pfizer by 2.2% in the third quarter. Lafayette Investments Inc. now owns 17,470 shares of the biopharmaceutical company’s stock worth $579,000 after purchasing an additional 368 shares during the last quarter. Finally, Safeguard Investment Advisory Group LLC increased its position in shares of Pfizer by 3.9% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 9,987 shares of the biopharmaceutical company’s stock valued at $288,000 after purchasing an additional 371 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PFE shares. Guggenheim started coverage on shares of Pfizer in a report on Friday, February 23rd. They issued a “buy” rating and a $36.00 price objective on the stock. Morgan Stanley upped their price objective on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $36.00 target price (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Argus cut Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Monday, April 15th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $36.00.

Pfizer Price Performance

Shares of PFE traded down $0.07 during midday trading on Thursday, hitting $28.20. 47,806,405 shares of the company traded hands, compared to its average volume of 43,591,230. The stock has a market cap of $159.66 billion, a price-to-earnings ratio of -469.59, a PEG ratio of 1.17 and a beta of 0.63. The firm has a 50 day moving average of $26.94 and a 200-day moving average of $28.12. 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 Inc. has a 52 week low of $25.20 and a 52 week high of $40.37.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The company had revenue of $14.88 billion during the quarter, compared to analyst estimates of $13.87 billion. Pfizer had a positive return on equity of 8.58% and a negative net margin of 0.56%. The firm’s revenue was down 19.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.23 earnings per share. On average, analysts forecast that Pfizer Inc. will post 2.39 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 5.96%. The ex-dividend date is Thursday, May 9th. Pfizer’s dividend payout ratio is -2,799.53%.

About Pfizer

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.