US Asset Management LLC Reduces Holdings in Pfizer Inc. (NYSE:PFE)

US Asset Management LLC lessened its holdings in Pfizer Inc. (NYSE:PFE) by 3.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,299 shares of the biopharmaceutical company’s stock after selling 423 shares during the period. US Asset Management LLC’s holdings in Pfizer were worth $372,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. SYM FINANCIAL Corp acquired a new stake in shares of Pfizer during the second quarter valued at $227,000. Hardin Capital Partners LLC purchased a new position in Pfizer during the second quarter worth about $255,000. HBK Sorce Advisory LLC boosted its stake in Pfizer by 7.1% in the 2nd quarter. HBK Sorce Advisory LLC now owns 135,558 shares of the biopharmaceutical company’s stock worth $3,793,000 after buying an additional 9,018 shares during the last quarter. Federated Hermes Inc. grew its holdings in Pfizer by 3.3% in the 2nd quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after buying an additional 470,003 shares during the period. Finally, Valley Wealth Managers Inc. lifted its holdings in shares of Pfizer by 17.9% during the 2nd quarter. Valley Wealth Managers Inc. now owns 649,809 shares of the biopharmaceutical company’s stock worth $18,182,000 after acquiring an additional 98,802 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analysts Set New Price Targets

PFE has been the subject of several research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Monday, September 9th. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company increased their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Eight 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 MarketBeat, Pfizer has an average rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Trading Up 0.4 %

PFE opened at $29.27 on Friday. The firm’s fifty day moving average price is $29.21 and its 200 day moving average price is $28.11. The stock has a market capitalization of $165.86 billion, a PE ratio of -487.75, a P/E/G ratio of 1.04 and a beta of 0.68. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $34.42. 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 (NYSE:PFE) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The firm 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 firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.67 earnings per share. As a group, research analysts expect that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 5.74%. Pfizer’s dividend payout ratio (DPR) is -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.