Pfizer Inc. (NYSE:PFE) Stock Holdings Trimmed by Pacer Advisors Inc.

Pacer Advisors Inc. lowered its holdings in shares of Pfizer Inc. (NYSE:PFE) by 75.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 410,463 shares of the biopharmaceutical company’s stock after selling 1,236,209 shares during the period. Pacer Advisors Inc.’s holdings in Pfizer were worth $11,485,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake 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 valued at $6,886,849,000 after acquiring an additional 11,099,024 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of 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 buying an additional 2,241,609 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Pfizer by 1.8% in the 2nd quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after buying an additional 290,760 shares in the last quarter. Federated Hermes Inc. raised its stake 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 worth $417,561,000 after buying an additional 470,003 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Pfizer by 2.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock worth $287,077,000 after buying an additional 238,850 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Down 0.8 %

NYSE:PFE opened at $29.42 on Monday. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $34.11. The firm has a market capitalization of $166.71 billion, a price-to-earnings ratio of -490.25, a PEG 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. The business’s fifty day moving average price is $29.36 and its 200 day moving average price is $28.24.

Pfizer (NYSE:PFE) last posted its quarterly 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 firm’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 earnings per share. On average, sell-side analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company 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. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 5.71%. Pfizer’s dividend payout ratio (DPR) is currently -2,799.53%.

Analyst Ratings Changes

A number of research firms have recently commented on PFE. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Wells Fargo & Company boosted their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. 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. Finally, UBS Group boosted their price objective on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and a consensus 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.