Grassi Investment Management trimmed its holdings in Pfizer Inc. (NYSE:PFE – Free Report) by 4.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 145,102 shares of the biopharmaceutical company’s stock after selling 6,500 shares during the period. Grassi Investment Management’s holdings in Pfizer were worth $5,322,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the business. BancFirst Trust & Investment Management increased its holdings in shares of Pfizer by 2.3% in the first quarter. BancFirst Trust & Investment Management now owns 17,794 shares of the biopharmaceutical company’s stock valued at $719,000 after purchasing an additional 398 shares during the last quarter. Strategic Investment Advisors MI grew its stake in Pfizer by 32.1% in the 1st quarter. Strategic Investment Advisors MI now owns 94,117 shares of the biopharmaceutical company’s stock valued at $3,840,000 after buying an additional 22,879 shares during the last quarter. State of Michigan Retirement System raised its holdings in Pfizer by 0.9% in the 1st quarter. State of Michigan Retirement System now owns 1,771,584 shares of the biopharmaceutical company’s stock valued at $72,281,000 after acquiring an additional 15,900 shares during the period. MainStreet Investment Advisors LLC lifted its position in Pfizer by 1.6% during the first quarter. MainStreet Investment Advisors LLC now owns 197,477 shares of the biopharmaceutical company’s stock worth $8,057,000 after acquiring an additional 3,099 shares during the last quarter. Finally, Center For Asset Management LLC boosted its holdings in shares of Pfizer by 28.0% during the first quarter. Center For Asset Management LLC now owns 23,894 shares of the biopharmaceutical company’s stock worth $975,000 after acquiring an additional 5,228 shares during the period. 68.05% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
PFE has been the subject of several recent research reports. HSBC assumed coverage on Pfizer in a research note on Friday, July 14th. They issued a “buy” rating and a $50.00 price target for the company. Truist Financial reaffirmed a “buy” rating and set a $62.00 price target on shares of Pfizer in a research report on Wednesday, September 13th. BMO Capital Markets cut their price target on Pfizer from $45.00 to $44.00 and set an “outperform” rating for the company in a research note on Wednesday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $75.00 price target on shares of Pfizer in a research note on Monday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Pfizer from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Monday, July 17th. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $46.35.
Pfizer Trading Down 1.3 %
PFE opened at $33.64 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.12 and a quick ratio of 1.82. Pfizer Inc. has a fifty-two week low of $33.44 and a fifty-two week high of $54.93. The firm has a market capitalization of $189.93 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 1.14 and a beta of 0.59. The company’s 50 day moving average price is $35.80 and its two-hundred day moving average price is $37.96.
Pfizer (NYSE:PFE – Get Free Report) last posted its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $13.36 billion. Pfizer had a net margin of 27.55% and a return on equity of 28.36%. The company’s quarterly revenue was down 54.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.04 EPS. As a group, research analysts predict that Pfizer Inc. will post 3.33 earnings per share for the current year.
Pfizer Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Friday, July 28th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date was Thursday, July 27th. Pfizer’s payout ratio is 43.62%.
Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, 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.
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