Wahed Invest LLC Has $2.96 Million Stake in Pfizer Inc. (NYSE:PFE)

Wahed Invest LLC lowered its stake in Pfizer Inc. (NYSE:PFE) by 2.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,434 shares of the biopharmaceutical company’s stock after selling 1,740 shares during the period. Pfizer makes up approximately 1.3% of Wahed Invest LLC’s holdings, making the stock its 15th biggest position. Wahed Invest LLC’s holdings in Pfizer were worth $2,955,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. RB Capital Management LLC raised its holdings in Pfizer by 6.7% in the 1st quarter. RB Capital Management LLC now owns 5,446 shares of the biopharmaceutical company’s stock worth $282,000 after acquiring an additional 341 shares during the period. Ironwood Wealth Management LLC. lifted its holdings in shares of Pfizer by 1.1% during the first quarter. Ironwood Wealth Management LLC. now owns 36,081 shares of the biopharmaceutical company’s stock worth $1,868,000 after buying an additional 400 shares during the last quarter. United Bank boosted its position in shares of Pfizer by 0.6% in the first quarter. United Bank now owns 46,671 shares of the biopharmaceutical company’s stock valued at $2,416,000 after acquiring an additional 290 shares during the period. Ergoteles LLC grew its stake in shares of Pfizer by 136.3% in the first quarter. Ergoteles LLC now owns 36,766 shares of the biopharmaceutical company’s stock worth $1,903,000 after acquiring an additional 21,209 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in Pfizer by 6.4% during the first quarter. Mackenzie Financial Corp now owns 1,337,418 shares of the biopharmaceutical company’s stock worth $69,238,000 after acquiring an additional 79,887 shares during the period. Institutional investors own 68.05% of the company’s stock.

Pfizer Price Performance

NYSE PFE traded down $0.46 on Monday, hitting $33.79. 12,865,450 shares of the company were exchanged, compared to its average volume of 24,135,904. Pfizer Inc. has a 1-year low of $33.54 and a 1-year high of $54.93. The firm has a 50 day moving average of $36.01 and a two-hundred day moving average of $38.20. The company has a current ratio of 2.12, a quick ratio of 1.82 and a debt-to-equity ratio of 0.62. The company has a market cap of $190.78 billion, a P/E ratio of 9.11, a P/E/G ratio of 1.14 and a beta of 0.59.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Pfizer had a net margin of 27.55% and a return on equity of 28.36%. The company had revenue of $12.73 billion for the quarter, compared to analyst estimates of $13.36 billion. During the same period in the prior year, the business earned $2.04 earnings per share. Pfizer’s quarterly revenue was down 54.1% on a year-over-year basis. On average, equities analysts predict that Pfizer Inc. will post 3.33 EPS for the current year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Friday, July 28th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 4.85%. The ex-dividend date was Thursday, July 27th. Pfizer’s dividend payout ratio (DPR) is presently 43.62%.

Wall Street Analyst Weigh In

PFE has been the topic of several research analyst reports. BMO Capital Markets decreased their price target on shares of Pfizer from $45.00 to $44.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 2nd. Morgan Stanley lowered their price target on Pfizer from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $75.00 price objective on shares of Pfizer in a research report on Tuesday, September 5th. StockNews.com initiated coverage on Pfizer in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Credit Suisse Group cut Pfizer from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $47.00 to $40.00 in a research report on Thursday, June 29th. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $46.35.

Pfizer Profile

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, 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.