Palouse Capital Management Inc. Sells 2,544 Shares of Pfizer Inc. (NYSE:PFE)

Palouse Capital Management Inc. reduced its position in Pfizer Inc. (NYSE:PFE) by 1.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,259 shares of the biopharmaceutical company’s stock after selling 2,544 shares during the period. Pfizer comprises 2.8% of Palouse Capital Management Inc.’s investment portfolio, making the stock its 3rd biggest position. Palouse Capital Management Inc.’s holdings in Pfizer were worth $4,176,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP grew its position in shares of Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after purchasing an additional 11,099,024 shares during the last quarter. Swedbank AB acquired a new stake in Pfizer during the 1st quarter valued at $172,902,000. Pzena Investment Management LLC increased its position in Pfizer by 181.6% during the first quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock worth $212,855,000 after buying an additional 4,947,000 shares in the last quarter. Ruffer LLP raised its holdings in shares of Pfizer by 248.7% in the fourth quarter. Ruffer LLP now owns 5,796,012 shares of the biopharmaceutical company’s stock worth $166,837,000 after acquiring an additional 4,133,786 shares during the last quarter. Finally, FIL Ltd lifted its position in shares of Pfizer by 97.1% in the fourth quarter. FIL Ltd now owns 7,582,518 shares of the biopharmaceutical company’s stock valued at $218,301,000 after acquiring an additional 3,734,595 shares in the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Price Performance

Shares of Pfizer stock opened at $29.75 on Thursday. The business’s fifty day moving average price is $29.33 and its 200 day moving average price is $28.19. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $34.11. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $168.58 billion, a P/E ratio of -495.75, a PEG ratio of 1.02 and a beta of 0.68.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. The business had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.67 EPS. As a group, research analysts anticipate 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. Stockholders of record on Friday, July 26th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.65%. The ex-dividend date was Friday, July 26th. Pfizer’s payout ratio is currently -2,799.53%.

Analysts Set New Price Targets

PFE has been the subject of a number of recent research reports. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company upped their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group lifted their target price on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Barclays increased their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

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.