Pfizer Inc. (NYSE:PFE) Shares Sold by Frisch Financial Group Inc.

Frisch Financial Group Inc. trimmed its holdings in Pfizer Inc. (NYSE:PFE) by 3.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,047 shares of the biopharmaceutical company’s stock after selling 1,145 shares during the quarter. Frisch Financial Group Inc.’s holdings in Pfizer were worth $925,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in Pfizer by 4.9% in the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after acquiring an additional 11,099,024 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Pfizer by 3.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after purchasing an additional 2,241,609 shares during the period. Van ECK Associates Corp increased its holdings in Pfizer by 1.8% in the second quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after buying an additional 290,760 shares during the last quarter. Federated Hermes Inc. increased its holdings in Pfizer by 3.3% in the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after buying an additional 470,003 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Pfizer by 2.4% in the second quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock worth $287,077,000 after buying an additional 238,850 shares during the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PFE has been the topic of a number of research reports. Barclays increased their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Monday. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. UBS Group upped their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Price Performance

Pfizer stock opened at $30.07 on Tuesday. The firm has a market capitalization of $170.40 billion, a P/E ratio of -501.08, a PEG ratio of 1.02 and a beta of 0.68. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $34.12. The business has a 50-day moving average of $29.26 and a 200-day moving average of $28.15. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same period in the previous year, the firm earned $0.67 EPS. Pfizer’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 5.59%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s 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.