Pfizer Inc. (NYSE:PFE) Shares Sold by Kennedy Investment Group

Kennedy Investment Group decreased its position in shares of Pfizer Inc. (NYSE:PFE) by 22.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,237 shares of the biopharmaceutical company’s stock after selling 1,834 shares during the quarter. Kennedy Investment Group’s holdings in Pfizer were worth $254,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. BancFirst Trust & Investment Management increased its stake in shares of Pfizer by 2.3% during the 1st quarter. BancFirst Trust & Investment Management now owns 17,794 shares of the biopharmaceutical company’s stock worth $719,000 after purchasing an additional 398 shares in the last quarter. Strategic Investment Advisors MI raised its stake in Pfizer by 32.1% in the 1st quarter. Strategic Investment Advisors MI now owns 94,117 shares of the biopharmaceutical company’s stock valued at $3,840,000 after purchasing an additional 22,879 shares during the last quarter. State of Michigan Retirement System lifted its holdings in Pfizer by 0.9% in the 1st quarter. State of Michigan Retirement System now owns 1,771,584 shares of the biopharmaceutical company’s stock valued at $72,281,000 after purchasing an additional 15,900 shares in the last quarter. MainStreet Investment Advisors LLC boosted its stake in shares of Pfizer by 1.6% during the 1st quarter. MainStreet Investment Advisors LLC now owns 197,477 shares of the biopharmaceutical company’s stock worth $8,057,000 after purchasing an additional 3,099 shares during the last quarter. Finally, Center For Asset Management LLC grew its holdings in shares of Pfizer by 28.0% during the first quarter. Center For Asset Management LLC now owns 23,894 shares of the biopharmaceutical company’s stock worth $975,000 after buying an additional 5,228 shares in the last quarter. Institutional investors and hedge funds own 68.05% of the company’s stock.

Pfizer Stock Performance

Shares of NYSE PFE opened at $34.08 on Thursday. The stock has a market capitalization of $192.41 billion, a P/E ratio of 9.06, a P/E/G ratio of 1.14 and a beta of 0.59. The firm’s 50-day moving average price is $35.90 and its two-hundred day moving average price is $38.09. Pfizer Inc. has a 52-week low of $33.54 and a 52-week high of $54.93. The company has a quick ratio of 1.82, a current ratio of 2.12 and a debt-to-equity ratio of 0.62.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $13.36 billion. Pfizer had a return on equity of 28.36% and a net margin of 27.55%. The firm’s quarterly revenue was down 54.1% compared to the same quarter last year. During the same period last year, the business posted $2.04 earnings per share. As a group, sell-side analysts forecast that Pfizer Inc. will post 3.33 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Friday, July 28th were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend was Thursday, July 27th. Pfizer’s payout ratio is currently 43.62%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PFE shares. JPMorgan Chase & Co. decreased their target price on shares of Pfizer from $45.00 to $41.00 and set a “neutral” rating on the stock in a research report on Monday, July 17th. Morgan Stanley decreased 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. Truist Financial reiterated a “buy” rating and set a $62.00 price objective on shares of Pfizer in a report on Wednesday. Barclays dropped their price objective on Pfizer from $40.00 to $38.00 in a report on Tuesday, July 11th. Finally, BMO Capital Markets reduced their target price on Pfizer from $45.00 to $44.00 and set an “outperform” rating on the stock in a report on Wednesday, August 2nd. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $46.35.

About Pfizer

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.