Hemenway Trust Co LLC Decreases Stock Holdings in Pfizer Inc. (NYSE:PFE)

Hemenway Trust Co LLC lowered its position in Pfizer Inc. (NYSE:PFE) by 23.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,850 shares of the biopharmaceutical company’s stock after selling 4,875 shares during the period. Hemenway Trust Co LLC’s holdings in Pfizer were worth $443,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Pfizer during the 4th quarter valued at $2,129,927,000. Wellington Management Group LLP raised its stake in Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after buying an additional 11,099,024 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Pfizer by 13.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after acquiring an additional 8,298,920 shares in the last quarter. Swedbank AB purchased a new stake in shares of Pfizer during the first quarter worth about $172,902,000. Finally, Pzena Investment Management LLC increased its holdings in shares of Pfizer by 181.6% during the first quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock valued at $212,855,000 after acquiring an additional 4,947,000 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of PFE traded up $0.06 during trading hours on Friday, hitting $28.57. 5,886,196 shares of the stock were exchanged, compared to its average volume of 38,168,906. The stock’s 50-day moving average price is $29.05 and its two-hundred day moving average price is $28.04. 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 company has a market cap of $161.89 billion, a price-to-earnings ratio of -475.09, a price-to-earnings-growth ratio of 1.02 and a beta of 0.68. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $34.64.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.67 earnings per share. Research analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 5.88%. The ex-dividend date was Friday, July 26th. Pfizer’s dividend payout ratio is currently -2,799.53%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. UBS Group upped their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Wells Fargo & Company lifted 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. Finally, StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.54.

About Pfizer

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.