Pfizer Inc. (NYSE:PFE) Position Lowered by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC reduced its position in Pfizer Inc. (NYSE:PFE) by 7.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,211 shares of the biopharmaceutical company’s stock after selling 3,466 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Pfizer were worth $1,209,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Pfizer during the 4th quarter valued at approximately $2,129,927,000. Wellington Management Group LLP raised its holdings in shares of Pfizer by 4.9% during the fourth 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. Charles Schwab Investment Management Inc. raised its holdings in shares of Pfizer by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock worth $2,985,783,000 after purchasing an additional 8,473,686 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Pfizer by 13.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after buying an additional 8,298,920 shares during the last quarter. Finally, Swedbank AB bought a new position in Pfizer in the first quarter worth about $172,902,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of PFE traded down $0.44 during midday trading on Tuesday, reaching $29.30. The stock had a trading volume of 28,998,532 shares, compared to its average volume of 40,017,730. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78. The company has a market capitalization of $166.03 billion, a P/E ratio of -497.67, a P/E/G ratio of 1.07 and a beta of 0.69. The firm’s 50 day moving average price is $28.75 and its 200-day moving average price is $27.85. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $37.19.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.31%. The firm had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same period in the previous year, the business earned $0.67 earnings per share. Pfizer’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts forecast that Pfizer Inc. will post 2.68 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.73%. The ex-dividend date is Friday, July 26th. Pfizer’s payout ratio is -2,800.00%.

Wall Street Analysts Forecast Growth

PFE has been the subject of several recent research reports. Wells Fargo & Company upped their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. BMO Capital Markets reissued an “outperform” rating and set a $36.00 price target (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Morgan Stanley increased their price objective on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Barclays boosted their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $34.58.

Pfizer Company 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.