Dimensional Fund Advisors LP Sells 2,370,984 Shares of Pfizer Inc. (NYSE:PFE)

Dimensional Fund Advisors LP trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 6.6% in the 2nd quarter, Holdings Channel reports. The firm owned 33,318,856 shares of the biopharmaceutical company’s stock after selling 2,370,984 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Pfizer were worth $932,250,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PFE. Olistico Wealth LLC bought a new stake in Pfizer during the 2nd quarter valued at about $25,000. MFA Wealth Advisors LLC purchased a new position in shares of Pfizer during the second quarter worth approximately $29,000. Creekmur Asset Management LLC bought a new stake in shares of Pfizer during the fourth quarter valued at approximately $32,000. Trivant Custom Portfolio Group LLC boosted its holdings in shares of Pfizer by 100.0% in the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 600 shares during the period. Finally, Financial Connections Group Inc. bought a new position in Pfizer in the second quarter worth approximately $34,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Up 0.4 %

Shares of PFE stock opened at $29.27 on Monday. The stock’s fifty day moving average price is $29.21 and its 200 day moving average price is $28.13. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $34.42. The company has a market cap of $165.86 billion, a price-to-earnings ratio of -487.83, a price-to-earnings-growth ratio of 1.04 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 (NYSE:PFE) last issued its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.67 earnings per share. On average, research analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th were paid a dividend of $0.42 per share. The ex-dividend date was Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 5.74%. Pfizer’s payout ratio is currently -2,800.00%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PFE. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Barclays increased their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Monday, September 9th. Finally, Wells Fargo & Company increased their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.