First City Capital Management Inc. Cuts Stock Holdings in Pfizer Inc. (NYSE:PFE)

First City Capital Management Inc. lowered its stake in Pfizer Inc. (NYSE:PFE) by 9.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,583 shares of the biopharmaceutical company’s stock after selling 4,699 shares during the quarter. First City Capital Management Inc.’s holdings in Pfizer were worth $1,275,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Gabelli Funds LLC boosted its stake in Pfizer by 4.5% during the second quarter. Gabelli Funds LLC now owns 742,113 shares of the biopharmaceutical company’s stock valued at $20,764,000 after buying an additional 31,700 shares during the last quarter. Fidelis Capital Partners LLC boosted its position in shares of Pfizer by 1.7% during the 2nd quarter. Fidelis Capital Partners LLC now owns 24,568 shares of the biopharmaceutical company’s stock valued at $709,000 after acquiring an additional 412 shares during the last quarter. 1832 Asset Management L.P. boosted its position in shares of Pfizer by 24,961.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,497,886 shares of the biopharmaceutical company’s stock valued at $69,891,000 after acquiring an additional 2,487,919 shares during the last quarter. Frank Rimerman Advisors LLC grew its holdings in shares of Pfizer by 32,348.1% in the second quarter. Frank Rimerman Advisors LLC now owns 101,887 shares of the biopharmaceutical company’s stock valued at $2,851,000 after purchasing an additional 101,573 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in Pfizer by 7.3% in the second quarter. ProShare Advisors LLC now owns 845,638 shares of the biopharmaceutical company’s stock worth $23,661,000 after purchasing an additional 57,825 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

PFE has been the subject of a number of recent research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Monday, September 16th. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Wells Fargo & Company boosted 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. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Barclays upped their price objective on 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 assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Stock Down 0.8 %

Shares of NYSE PFE opened at $29.42 on Friday. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $34.11. The stock’s fifty day simple moving average is $29.36 and its two-hundred day simple moving average is $28.24. The stock has a market capitalization of $166.71 billion, a PE ratio of -490.25, a price-to-earnings-growth ratio of 1.05 and a beta of 0.68. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last posted its earnings results 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. The company 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 firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.67 earnings per share. As a group, analysts expect that Pfizer Inc. will post 2.66 EPS 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 paid a dividend of $0.42 per share. The ex-dividend date was Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 5.71%. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

About Pfizer

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.