PNC Financial Services Group Inc. lessened its holdings in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 2.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 11,962,470 shares of the biopharmaceutical company’s stock after selling 271,951 shares during the quarter. PNC Financial Services Group Inc. owned about 0.21% of Pfizer worth $438,783,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. 25 LLC bought a new position in Pfizer in the 1st quarter valued at about $25,000. Worth Asset Management LLC acquired a new stake in shares of Pfizer in the 1st quarter worth approximately $29,000. Steward Financial Group LLC bought a new position in shares of Pfizer in the second quarter valued at approximately $43,000. GeoWealth Management LLC acquired a new position in shares of Pfizer during the first quarter valued at approximately $49,000. Finally, Sanctuary Wealth Management L.L.C. bought a new stake in Pfizer during the fourth quarter worth approximately $50,000. Institutional investors own 68.05% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. Jefferies Financial Group upgraded Pfizer from a “hold” rating to a “buy” rating and lifted their price target for the company from $38.00 to $39.00 in a research report on Monday, October 16th. JPMorgan Chase & Co. lowered their price objective on shares of Pfizer from $36.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, October 16th. BMO Capital Markets cut their target price on shares of Pfizer from $44.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, October 16th. Citigroup reduced their target price on shares of Pfizer from $42.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, October 16th. Finally, Morgan Stanley dropped their price target on Pfizer from $39.00 to $37.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 1st. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $42.50.
Pfizer Stock Down 0.5 %
PFE stock traded down $0.16 during midday trading on Tuesday, reaching $29.82. The company had a trading volume of 2,239,846 shares, compared to its average volume of 25,448,164. The company has a 50 day moving average of $31.89 and a two-hundred day moving average of $35.17. The company has a market capitalization of $168.38 billion, a P/E ratio of 16.38, a PEG ratio of 1.91 and a beta of 0.63. Pfizer Inc. has a 1 year low of $28.93 and a 1 year high of $54.93. The company has a current ratio of 2.38, a quick ratio of 2.05 and a debt-to-equity ratio of 0.63.
Pfizer (NYSE:PFE – Get Free Report) last announced its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.15. The business had revenue of $13.23 billion during the quarter, compared to analyst estimates of $13.77 billion. Pfizer had a return on equity of 16.72% and a net margin of 15.30%. On average, equities research analysts expect that Pfizer Inc. will post 1.56 earnings per share for the current fiscal year.
Pfizer Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Friday, November 10th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.64 annualized dividend and a dividend yield of 5.50%. Pfizer’s payout ratio is 89.62%.
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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