Pfizer Inc. (NYSE:PFE) Shares Sold by Richard W. Paul & Associates LLC

Richard W. Paul & Associates LLC reduced its position in shares of Pfizer Inc. (NYSE:PFE) by 14.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,198 shares of the biopharmaceutical company’s stock after selling 5,159 shares during the period. Richard W. Paul & Associates LLC’s holdings in Pfizer were worth $873,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Griffin Asset Management Inc. raised its position in shares of Pfizer by 27.2% during the 2nd quarter. Griffin Asset Management Inc. now owns 86,469 shares of the biopharmaceutical company’s stock valued at $2,419,000 after acquiring an additional 18,480 shares in the last quarter. Heritage Financial Services LLC increased its position in Pfizer by 25.9% in the second quarter. Heritage Financial Services LLC now owns 9,170 shares of the biopharmaceutical company’s stock worth $257,000 after buying an additional 1,884 shares during the period. Benin Management CORP increased its position in Pfizer by 1.5% in the second quarter. Benin Management CORP now owns 26,316 shares of the biopharmaceutical company’s stock worth $736,000 after buying an additional 400 shares during the period. Moss Adams Wealth Advisors LLC increased its position in Pfizer by 38.4% in the second quarter. Moss Adams Wealth Advisors LLC now owns 20,970 shares of the biopharmaceutical company’s stock worth $587,000 after buying an additional 5,823 shares during the period. Finally, Granite Group Advisors LLC increased its position in Pfizer by 4.7% in the second quarter. Granite Group Advisors LLC now owns 44,886 shares of the biopharmaceutical company’s stock worth $1,256,000 after buying an additional 1,995 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Trading Down 0.8 %

PFE stock traded down $0.24 during trading hours on Thursday, hitting $28.79. 20,225,942 shares of the stock traded hands, compared to its average volume of 39,114,680. The stock has a 50-day simple moving average of $28.80 and a 200 day simple moving average of $27.94. Pfizer Inc. has a one year low of $25.20 and a one year high of $37.13. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same quarter last year, the company posted $0.67 EPS. Pfizer’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts expect that Pfizer Inc. will post 2.68 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be given a $0.42 dividend. The ex-dividend date is Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.84%. Pfizer’s dividend payout ratio (DPR) is -2,799.53%.

Analyst Upgrades and Downgrades

PFE has been the topic of several analyst reports. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Barclays raised their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Monday. Morgan Stanley raised their price target on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Finally, UBS Group raised their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Profile

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