Wealthspire Advisors LLC Cuts Position in Pfizer Inc. (NYSE:PFE)

Wealthspire Advisors LLC decreased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 5.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,093 shares of the biopharmaceutical company’s stock after selling 6,316 shares during the quarter. Wealthspire Advisors LLC’s holdings in Pfizer were worth $3,388,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of PFE. Norges Bank acquired a new stake in Pfizer during the 4th quarter valued at approximately $2,129,927,000. Wellington Management Group LLP raised its position in shares of Pfizer by 4.9% during the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after purchasing an additional 11,099,024 shares during the period. Swedbank AB bought a new stake in Pfizer in the first quarter valued at $172,902,000. Pzena Investment Management LLC lifted its position in Pfizer by 181.6% in the 1st quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock valued at $212,855,000 after purchasing an additional 4,947,000 shares during the last quarter. Finally, Ruffer LLP boosted its position in shares of Pfizer by 248.7% during the fourth quarter. Ruffer LLP now owns 5,796,012 shares of the biopharmaceutical company’s stock worth $166,837,000 after buying an additional 4,133,786 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. UBS Group increased their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Barclays boosted their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Pfizer has an average rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Stock Performance

NYSE:PFE opened at $29.27 on Friday. The firm has a market capitalization of $165.86 billion, a PE ratio of -487.75, a PEG ratio of 1.04 and a beta of 0.68. 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 Inc. has a 1 year low of $25.20 and a 1 year high of $34.42. The firm’s fifty day simple moving average is $29.21 and its 200 day simple moving average is $28.12.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. During the same period last year, the business posted $0.67 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.74%. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

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.