Allspring Global Investments Holdings LLC Decreases Stake in Pfizer Inc. (NYSE:PFE)

Allspring Global Investments Holdings LLC decreased its holdings in Pfizer Inc. (NYSE:PFE) by 34.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,596,393 shares of the biopharmaceutical company’s stock after selling 838,515 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Pfizer were worth $44,300,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Teza Capital Management LLC purchased a new position in Pfizer in the 3rd quarter valued at approximately $347,000. Royal London Asset Management Ltd. increased its position in shares of Pfizer by 5.1% in the third quarter. Royal London Asset Management Ltd. now owns 2,313,310 shares of the biopharmaceutical company’s stock valued at $76,744,000 after buying an additional 113,175 shares in the last quarter. Industrial Alliance Investment Management Inc. boosted its position in shares of Pfizer by 133.5% in the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 12,188 shares of the biopharmaceutical company’s stock worth $404,000 after buying an additional 6,968 shares in the last quarter. Cito Capital Group LLC grew its stake in Pfizer by 3.8% in the 3rd quarter. Cito Capital Group LLC now owns 40,500 shares of the biopharmaceutical company’s stock valued at $1,343,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Baker Avenue Asset Management LP increased its holdings in Pfizer by 5.9% during the 3rd quarter. Baker Avenue Asset Management LP now owns 33,916 shares of the biopharmaceutical company’s stock valued at $1,125,000 after acquiring an additional 1,876 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of PFE stock opened at $27.67 on Thursday. The firm’s 50-day simple moving average is $27.96 and its 200-day simple moving average is $27.71. The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $37.80.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.26. The company had revenue of $14.88 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The business’s quarterly revenue was down 19.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.23 EPS. As a group, research analysts anticipate that Pfizer Inc. will post 2.38 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.07%. Pfizer’s dividend payout ratio (DPR) is -2,799.53%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PFE shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Wednesday, June 26th. BMO Capital Markets reiterated an “outperform” rating and set a $36.00 target price (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Morgan Stanley boosted their price target on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Finally, Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $35.54.

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.