Steel Grove Capital Advisors LLC Decreases Holdings in Pfizer Inc. (NYSE:PFE)

Steel Grove Capital Advisors LLC trimmed its position in shares of Pfizer Inc. (NYSE:PFE) by 3.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,654 shares of the biopharmaceutical company’s stock after selling 1,930 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Pfizer were worth $1,641,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of 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 buying an additional 11,099,024 shares in the last quarter. Massachusetts Financial Services Co. MA increased 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 purchasing an additional 2,241,609 shares during the period. Van ECK Associates Corp increased its stake in 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 purchasing an additional 290,760 shares during the period. Federated Hermes Inc. increased its stake in 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 purchasing an additional 470,003 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in 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 purchasing an additional 238,850 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PFE shares. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Monday, September 16th. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Wells Fargo & Company lifted their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, UBS Group lifted their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Eight 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Down 0.8 %

PFE stock 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 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 current ratio of 0.86 and a quick ratio of 0.60. The stock has a market capitalization 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 (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. Pfizer’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 business earned $0.67 earnings per share. Equities analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

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 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date was Friday, July 26th. 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.