Carlton Hofferkamp & Jenks Wealth Management LLC Cuts Stock Position in Pfizer Inc. $PFE

Carlton Hofferkamp & Jenks Wealth Management LLC cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 28.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,170 shares of the biopharmaceutical company’s stock after selling 9,056 shares during the quarter. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Pfizer were worth $552,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Bessemer Group Inc. increased its position in Pfizer by 11.1% in the first quarter. Bessemer Group Inc. now owns 132,478 shares of the biopharmaceutical company’s stock worth $3,358,000 after buying an additional 13,228 shares during the last quarter. Capital Advisors Inc. OK lifted its holdings in Pfizer by 1.2% during the first quarter. Capital Advisors Inc. OK now owns 1,413,472 shares of the biopharmaceutical company’s stock valued at $35,817,000 after purchasing an additional 17,032 shares during the last quarter. CHURCHILL MANAGEMENT Corp bought a new position in Pfizer during the first quarter worth about $8,283,000. Westbourne Investments Inc. bought a new stake in shares of Pfizer in the first quarter valued at approximately $2,411,000. Finally, Bourne Lent Asset Management Inc. boosted its stake in Pfizer by 90.8% in the 2nd quarter. Bourne Lent Asset Management Inc. now owns 38,255 shares of the biopharmaceutical company’s stock worth $927,000 after purchasing an additional 18,200 shares during the period. Institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

PFE has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Pfizer in a report on Wednesday, October 8th. Citigroup boosted their price target on shares of Pfizer from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, August 6th. Morgan Stanley reduced their price target on shares of Pfizer from $33.00 to $32.00 and set an “equal weight” rating for the company in a research report on Friday, October 10th. Wall Street Zen lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Sunday, September 28th. Finally, UBS Group restated a “neutral” rating and set a $28.00 price target on shares of Pfizer in a research report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Pfizer has an average rating of “Hold” and an average target price of $28.13.

Pfizer Stock Performance

Pfizer stock opened at $24.79 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $140.92 billion, a PE ratio of 13.18, a P/E/G ratio of 0.82 and a beta of 0.55. The firm has a fifty day simple moving average of $24.87 and a two-hundred day simple moving average of $24.17. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $29.17.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.20. The business had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $13.43 billion. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. Research analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, November 7th. Pfizer’s dividend payout ratio is 91.49%.

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.