Trueblood Wealth Management LLC Decreases Stock Position in Pfizer Inc. (NYSE:PFE)

Trueblood Wealth Management LLC cut its holdings in Pfizer Inc. (NYSE:PFE) by 30.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,868 shares of the biopharmaceutical company’s stock after selling 4,352 shares during the period. Trueblood Wealth Management LLC’s holdings in Pfizer were worth $276,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Wellington Management Group LLP lifted its holdings in Pfizer by 4.9% in the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after purchasing an additional 11,099,024 shares in the last quarter. Norges Bank purchased a new position in Pfizer in the 4th quarter valued at about $2,129,927,000. Van ECK Associates Corp lifted its holdings in Pfizer by 1.8% in the 2nd quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock valued at $450,593,000 after purchasing an additional 290,760 shares in the last quarter. Thornburg Investment Management Inc. lifted its holdings in Pfizer by 10.3% in the 2nd quarter. Thornburg Investment Management Inc. now owns 9,803,509 shares of the biopharmaceutical company’s stock valued at $274,302,000 after purchasing an additional 912,156 shares in the last quarter. Finally, California State Teachers Retirement System lifted its holdings in Pfizer by 0.9% in the 1st quarter. California State Teachers Retirement System now owns 9,250,303 shares of the biopharmaceutical company’s stock valued at $256,696,000 after purchasing an additional 83,556 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. UBS Group increased their target price on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Monday. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Price Performance

Shares of PFE stock opened at $29.64 on Thursday. The firm has a fifty day moving average of $29.16 and a two-hundred day moving average of $28.09. The firm has a market cap of $167.96 billion, a P/E ratio of -494.00, a P/E/G ratio of 1.00 and a beta of 0.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $34.62.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. The company had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS. As a group, research analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.67%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is currently -2,800.00%.

About Pfizer

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.