Cedar Brook Financial Partners LLC trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 9.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,893 shares of the biopharmaceutical company’s stock after selling 2,015 shares during the period. Cedar Brook Financial Partners LLC’s holdings in Pfizer were worth $730,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. increased its stake in Pfizer by 0.6% in the first quarter. BlackRock Inc. now owns 445,384,893 shares of the biopharmaceutical company’s stock valued at $18,171,704,000 after purchasing an additional 2,516,132 shares in the last quarter. Wellington Management Group LLP increased its stake in Pfizer by 9.8% in the 1st quarter. Wellington Management Group LLP now owns 218,931,933 shares of the biopharmaceutical company’s stock valued at $8,932,423,000 after buying an additional 19,602,359 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in Pfizer by 89,592.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 161,143,638 shares of the biopharmaceutical company’s stock valued at $8,257,000,000 after buying an additional 160,963,976 shares during the last quarter. Geode Capital Management LLC increased its stake in Pfizer by 0.5% in the 1st quarter. Geode Capital Management LLC now owns 109,852,779 shares of the biopharmaceutical company’s stock valued at $4,472,433,000 after buying an additional 577,201 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Pfizer by 14.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 83,901,181 shares of the biopharmaceutical company’s stock valued at $3,408,836,000 after buying an additional 10,560,702 shares during the last quarter. 68.05% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the stock. Credit Suisse Group lowered shares of Pfizer from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $47.00 to $40.00 in a research note on Thursday, June 29th. BMO Capital Markets decreased their price objective on shares of Pfizer from $45.00 to $44.00 and set an “outperform” rating for the company in a research report on Wednesday, August 2nd. HSBC started coverage on shares of Pfizer in a research report on Friday, July 14th. They issued a “buy” rating and a $50.00 price objective for the company. Truist Financial reissued a “buy” rating and issued a $62.00 price objective on shares of Pfizer in a research report on Wednesday. Finally, Morgan Stanley decreased their price objective on shares of Pfizer from $42.00 to $40.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 2nd. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.35.
Pfizer Price Performance
Shares of Pfizer stock opened at $34.15 on Friday. Pfizer Inc. has a twelve month low of $33.54 and a twelve month 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. The company has a 50-day simple moving average of $35.86 and a two-hundred day simple moving average of $38.06. The stock has a market capitalization of $192.81 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 1.14 and a beta of 0.59.
Pfizer (NYSE:PFE – Get Free Report) last issued its earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.57 by $0.10. The company had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $13.36 billion. Pfizer had a net margin of 27.55% and a return on equity of 28.36%. The business’s revenue for the quarter was down 54.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.04 EPS. Analysts forecast that Pfizer Inc. will post 3.33 EPS for the current year.
Pfizer Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Friday, July 28th were given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend was Thursday, July 27th. Pfizer’s payout ratio is presently 43.62%.
Pfizer Company 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.
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