SkyOak Wealth LLC Reduces Stock Holdings in Pfizer Inc. (NYSE:PFE)

SkyOak Wealth LLC cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 10.7% in the second quarter, HoldingsChannel reports. The firm owned 11,709 shares of the biopharmaceutical company’s stock after selling 1,402 shares during the period. SkyOak Wealth LLC’s holdings in Pfizer were worth $328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Blair William & Co. IL grew its position in Pfizer by 85.9% during the second quarter. Blair William & Co. IL now owns 1,953,310 shares of the biopharmaceutical company’s stock valued at $54,654,000 after buying an additional 902,376 shares during the period. Elkhorn Partners Limited Partnership raised its position in shares of Pfizer by 29.6% during the 2nd quarter. Elkhorn Partners Limited Partnership now owns 7,000 shares of the biopharmaceutical company’s stock worth $196,000 after purchasing an additional 1,600 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Pfizer by 15.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 357,546 shares of the biopharmaceutical company’s stock valued at $9,822,000 after acquiring an additional 47,785 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of Pfizer by 1.4% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 190,811 shares of the biopharmaceutical company’s stock worth $5,339,000 after acquiring an additional 2,572 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its position in shares of Pfizer by 0.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 897,017 shares of the biopharmaceutical company’s stock worth $25,099,000 after purchasing an additional 5,246 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Price Performance

Shares of NYSE PFE opened at $29.83 on Wednesday. The stock’s 50-day simple moving average is $29.30 and its 200-day simple moving average is $28.18. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The firm has a market capitalization of $169.04 billion, a PE ratio of -497.08, a price-to-earnings-growth ratio of 1.02 and a beta of 0.68. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $34.12.

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

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 5.63%. Pfizer’s dividend payout ratio is presently -2,799.53%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Barclays raised their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Monday. Finally, StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Eight investment 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. Based on data from MarketBeat.com, Pfizer presently has an average rating of “Moderate Buy” and an average price target 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.