D1 Capital Partners L.P. Cuts Stake in Pfizer Inc. (NYSE:PFE)

D1 Capital Partners L.P. reduced its holdings in shares of Pfizer Inc. (NYSE:PFE) by 2.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,621,000 shares of the biopharmaceutical company’s stock after selling 209,000 shares during the period. Pfizer makes up 3.6% of D1 Capital Partners L.P.’s holdings, making the stock its 11th largest position. D1 Capital Partners L.P. owned approximately 0.13% of Pfizer worth $213,236,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HighVista Strategies LLC purchased a new stake in shares of Pfizer during the second quarter worth about $1,687,000. Certified Advisory Corp boosted its stake in Pfizer by 1.6% in the 2nd quarter. Certified Advisory Corp now owns 82,840 shares of the biopharmaceutical company’s stock worth $2,318,000 after purchasing an additional 1,313 shares in the last quarter. Estabrook Capital Management grew its position in Pfizer by 0.3% during the 2nd quarter. Estabrook Capital Management now owns 361,026 shares of the biopharmaceutical company’s stock worth $10,102,000 after purchasing an additional 1,148 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Pfizer by 33.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 34,627 shares of the biopharmaceutical company’s stock valued at $1,058,000 after purchasing an additional 8,681 shares in the last quarter. Finally, Fairscale Capital LLC purchased a new position in shares of Pfizer in the second quarter worth $179,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Stock Down 0.8 %

NYSE PFE opened at $29.42 on Monday. The business has a fifty day moving average price of $29.36 and a 200 day moving average price of $28.24. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The company has a market cap of $166.71 billion, a P/E ratio of -490.25, a P/E/G ratio of 1.05 and a beta of 0.68. Pfizer Inc. has a one year low of $25.20 and a one year high of $34.11.

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

Pfizer Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is -2,799.53%.

Analysts Set New Price Targets

Several analysts have weighed in on PFE shares. Barclays boosted their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Wells Fargo & Company upped their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Daiwa Capital Markets upgraded 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 note on Wednesday, August 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Pfizer 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.