Kentucky Retirement Systems Decreases Position in Pfizer Inc. (NYSE:PFE)

Kentucky Retirement Systems trimmed its position in Pfizer Inc. (NYSE:PFE) by 0.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 427,014 shares of the biopharmaceutical company’s stock after selling 1,791 shares during the period. Kentucky Retirement Systems’ holdings in Pfizer were worth $11,948,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PFE. FAS Wealth Partners Inc. increased its position in shares of Pfizer by 1.3% during the second quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock worth $736,000 after purchasing an additional 342 shares in the last quarter. Sachetta LLC grew its holdings in shares of Pfizer by 7.3% during the second quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after buying an additional 342 shares in the last quarter. Ironvine Capital Partners LLC raised its position in shares of Pfizer by 2.1% in the first quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock valued at $470,000 after buying an additional 353 shares during the last quarter. Secure Asset Management LLC lifted its stake in shares of Pfizer by 0.6% in the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock worth $1,632,000 after buying an additional 353 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. boosted its position in Pfizer by 0.8% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock worth $1,180,000 after acquiring an additional 355 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

PFE has been the subject of a number of recent research reports. UBS Group increased their price objective on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company increased their price target on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Monday. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Finally, Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Down 0.3 %

Pfizer stock opened at $29.75 on Thursday. The company has a market capitalization of $168.58 billion, a PE ratio of -495.75, a price-to-earnings-growth ratio of 1.02 and a beta of 0.68. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $34.11. The firm has a 50 day moving average price of $29.33 and a 200 day moving average price of $28.19.

Pfizer (NYSE:PFE) last posted 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 firm had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter in the previous year, the business earned $0.67 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Research analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.65%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is currently -2,799.53%.

Pfizer Company 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.