Pfizer Inc. (NYSE:PFE) Shares Sold by Legacy Bridge LLC

Legacy Bridge LLC decreased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 8.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 10,813 shares of the biopharmaceutical company’s stock after selling 1,000 shares during the quarter. Legacy Bridge LLC’s holdings in Pfizer were worth $397,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PFE. Moneta Group Investment Advisors LLC grew its stake in shares of Pfizer by 89,592.7% in the fourth 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 in the last quarter. Norges Bank acquired a new stake in shares of Pfizer in the fourth quarter valued at $3,150,472,000. Wellington Management Group LLP grew its stake in shares of Pfizer by 9.8% in the first 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 in the last quarter. Renaissance Technologies LLC grew its stake in shares of Pfizer by 1,034.0% in the first quarter. Renaissance Technologies LLC now owns 12,149,955 shares of the biopharmaceutical company’s stock valued at $495,718,000 after buying an additional 11,078,514 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Pfizer by 14.4% in the first 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 in the last quarter. Institutional investors and hedge funds own 68.05% of the company’s stock.

Pfizer Stock Down 1.3 %

Shares of NYSE PFE opened at $33.64 on Tuesday. The company has a market capitalization of $189.93 billion, a price-to-earnings ratio of 8.95, a price-to-earnings-growth ratio of 1.14 and a beta of 0.59. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.12 and a quick ratio of 1.82. The business has a 50-day moving average of $35.80 and a two-hundred day moving average of $37.96. Pfizer Inc. has a 1 year low of $33.44 and a 1 year high of $54.93.

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

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Friday, July 28th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 4.88%. The ex-dividend date was Thursday, July 27th. Pfizer’s payout ratio is currently 43.62%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PFE. Credit Suisse Group cut Pfizer from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $47.00 to $40.00 in a research note on Thursday, June 29th. Truist Financial reissued a “buy” rating and set a $62.00 target price on shares of Pfizer in a research note on Wednesday, September 13th. StockNews.com began coverage on Pfizer in a research note on Thursday, August 17th. They set a “hold” rating for the company. JPMorgan Chase & Co. lowered their target price on Pfizer from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, July 17th. Finally, Jefferies Financial Group lowered their target price on Pfizer from $40.00 to $38.00 in a research note 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, Pfizer 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.