Pfizer Inc. (NYSE:PFE) Stake Trimmed by Cedar Wealth Management LLC

Cedar Wealth Management LLC trimmed its position in Pfizer Inc. (NYSE:PFE) by 19.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,588 shares of the biopharmaceutical company’s stock after selling 1,325 shares during the quarter. Cedar Wealth Management LLC’s holdings in Pfizer were worth $156,000 at the end of the most recent quarter.

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

Pfizer Stock Down 0.3 %

NYSE PFE opened at $29.67 on Friday. The stock’s 50 day simple moving average is $29.35 and its 200 day simple moving average is $28.20. Pfizer Inc. has a one year low of $25.20 and a one year high of $34.11. The firm has a market cap of $168.13 billion, a PE ratio of -494.42, 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 current ratio of 0.86 and a quick ratio of 0.60.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping 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 company had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter in the prior year, the business earned $0.67 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 5.66%. Pfizer’s dividend payout ratio (DPR) is currently -2,799.53%.

Analyst Ratings Changes

Several research firms have recently commented on PFE. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Monday. Wells Fargo & Company upped their price objective on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, Barclays upped their price objective on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Eight 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.54.

Pfizer 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.