Legacy Bridge LLC cut its holdings in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 8.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,813 shares of the biopharmaceutical company’s stock after selling 1,000 shares during the period. Legacy Bridge LLC’s holdings in Pfizer were worth $397,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of Pfizer by 0.6% during the first quarter. BlackRock Inc. now owns 445,384,893 shares of the biopharmaceutical company’s stock valued at $18,171,704,000 after buying an additional 2,516,132 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Pfizer by 9.8% in the first quarter. Wellington Management Group LLP now owns 218,931,933 shares of the biopharmaceutical company’s stock valued at $8,932,423,000 after acquiring an additional 19,602,359 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in Pfizer by 89,592.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 161,143,638 shares of the biopharmaceutical company’s stock valued at $8,257,000,000 after acquiring an additional 160,963,976 shares during the period. Geode Capital Management LLC lifted its holdings in Pfizer by 0.5% in the first quarter. Geode Capital Management LLC now owns 109,852,779 shares of the biopharmaceutical company’s stock valued at $4,472,433,000 after acquiring an additional 577,201 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Pfizer by 14.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 83,901,181 shares of the biopharmaceutical company’s stock valued at $3,408,836,000 after acquiring an additional 10,560,702 shares during the period. 68.05% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on PFE. Jefferies Financial Group lowered their target price on Pfizer from $40.00 to $38.00 in a report on Wednesday, August 2nd. HSBC started coverage on Pfizer in a report on Friday, July 14th. They issued a “buy” rating and a $50.00 target price on the stock. StockNews.com started coverage on Pfizer in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Truist Financial reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Pfizer in a research note on Wednesday, September 13th. Finally, Morgan Stanley decreased their price objective on Pfizer from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 2nd. Twelve investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $46.35.
Pfizer Stock Down 1.3 %
Shares of PFE opened at $33.64 on Tuesday. The business’s 50 day moving average is $35.80 and its 200 day moving average is $37.96. The company has a market capitalization of $189.93 billion, a PE ratio of 8.95, a price-to-earnings-growth ratio of 1.14 and a beta of 0.59. Pfizer Inc. has a 12-month low of $33.44 and a 12-month high of $54.93. The company has a current ratio of 2.12, a quick ratio of 1.82 and a debt-to-equity ratio of 0.62.
Pfizer (NYSE:PFE – Get Free Report) last released its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The business had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $13.36 billion. Pfizer had a return on equity of 28.36% and a net margin of 27.55%. The firm’s revenue for the quarter was down 54.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.04 EPS. Research analysts expect that Pfizer Inc. will post 3.33 earnings per share for the current fiscal year.
Pfizer Announces Dividend
The company 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 annualized dividend and a yield of 4.88%. The ex-dividend date of this dividend was Thursday, July 27th. Pfizer’s dividend payout ratio is presently 43.62%.
Pfizer Company Profile
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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