Holderness Investments Co. Trims Stock Holdings in Pfizer Inc. (NYSE:PFE)

Holderness Investments Co. lessened its position in shares of Pfizer Inc. (NYSE:PFE) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 98,903 shares of the biopharmaceutical company’s stock after selling 1,677 shares during the quarter. Holderness Investments Co.’s holdings in Pfizer were worth $2,767,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. ProShare Advisors LLC lifted its stake in Pfizer by 7.3% during the 2nd quarter. ProShare Advisors LLC now owns 845,638 shares of the biopharmaceutical company’s stock valued at $23,661,000 after acquiring an additional 57,825 shares during the period. Kowal Investment Group LLC lifted its position in Pfizer by 10.3% during the second quarter. Kowal Investment Group LLC now owns 18,834 shares of the biopharmaceutical company’s stock valued at $527,000 after purchasing an additional 1,757 shares during the period. Schwerin Boyle Capital Management Inc. boosted its holdings in Pfizer by 8.2% in the second quarter. Schwerin Boyle Capital Management Inc. now owns 775,125 shares of the biopharmaceutical company’s stock valued at $21,688,000 after purchasing an additional 58,850 shares during the last quarter. Beddow Capital Management Inc. grew its position in Pfizer by 9.4% during the 2nd quarter. Beddow Capital Management Inc. now owns 168,360 shares of the biopharmaceutical company’s stock worth $4,711,000 after purchasing an additional 14,475 shares during the period. Finally, Legacy Financial Advisors Inc. raised its stake in shares of Pfizer by 10.3% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 51,670 shares of the biopharmaceutical company’s stock valued at $1,446,000 after buying an additional 4,807 shares during the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Stock Down 0.8 %

PFE stock opened at $29.42 on Friday. 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 firm has a 50-day moving average of $29.36 and a two-hundred day moving average of $28.24. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $34.11. The company has a market cap of $166.71 billion, a price-to-earnings ratio of -490.25, a PEG ratio of 1.05 and a beta of 0.68.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The firm had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 earnings per share. As a group, analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.71%. The ex-dividend date was Friday, July 26th. Pfizer’s payout ratio is currently -2,799.53%.

Analyst Ratings Changes

Several analysts recently commented on PFE shares. 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 report on Wednesday, August 7th. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Monday, September 16th. UBS Group increased their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, 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 research report on Wednesday, July 31st. Eight equities research 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.