Pfizer Inc. (NYSE:PFE) Stock Position Cut by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC trimmed its position in Pfizer Inc. (NYSE:PFEFree Report) by 8.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,115,201 shares of the biopharmaceutical company’s stock after selling 106,687 shares during the period. Wedge Capital Management L L P NC’s holdings in Pfizer were worth $32,274,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its stake in Pfizer by 3.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after buying an additional 2,241,609 shares in the last quarter. Van ECK Associates Corp lifted its position 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 valued at $450,593,000 after acquiring an additional 290,760 shares in the last quarter. Federated Hermes Inc. boosted 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. Envestnet Asset Management Inc. raised its stake in Pfizer by 2.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock valued at $287,077,000 after purchasing an additional 238,850 shares during the period. Finally, Thornburg Investment Management Inc. lifted its holdings in shares of Pfizer by 10.3% in the second quarter. Thornburg Investment Management Inc. now owns 9,803,509 shares of the biopharmaceutical company’s stock valued at $274,302,000 after purchasing an additional 912,156 shares in the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Price Performance

Pfizer stock traded down $0.17 during mid-day trading on Monday, hitting $28.99. 7,676,591 shares of the company were exchanged, compared to its average volume of 37,243,805. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $33.92. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The business has a fifty day moving average of $29.04 and a 200 day moving average of $28.39. The company has a market capitalization of $164.27 billion, a PE ratio of -483.33, a price-to-earnings-growth ratio of 1.30 and a beta of 0.67.

Pfizer (NYSE:PFEGet Free Report) last issued its quarterly 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. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same quarter in the prior year, the firm posted $0.67 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 5.80%. Pfizer’s payout ratio is presently -2,800.00%.

Analyst Ratings Changes

PFE has been the topic of several recent analyst reports. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. UBS Group boosted their price objective on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Barclays boosted their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Finally, 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 note on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Get Our Latest Stock Analysis on Pfizer

About Pfizer

(Free Report)

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.

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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