Tobam Trims Holdings in Pfizer Inc. (NYSE:PFE)

Tobam lessened its holdings in shares of Pfizer Inc. (NYSE:PFE) by 43.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 511,355 shares of the biopharmaceutical company’s stock after selling 396,687 shares during the period. Pfizer comprises approximately 2.3% of Tobam’s holdings, making the stock its 11th largest holding. Tobam’s holdings in Pfizer were worth $14,308,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PFE. Norges Bank bought a new stake in Pfizer during the 4th quarter valued at approximately $2,129,927,000. Wellington Management Group LLP boosted its position in Pfizer by 4.9% during the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after acquiring an additional 11,099,024 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Pfizer by 8.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock valued at $2,985,783,000 after acquiring an additional 8,473,686 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in 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 acquiring an additional 8,298,920 shares in the last quarter. Finally, Swedbank AB bought a new stake in Pfizer during the 1st quarter valued at approximately $172,902,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of PFE opened at $28.71 on Friday. The firm has a market cap of $162.69 billion, a PE ratio of -478.50, a P/E/G ratio of 0.98 and a beta of 0.69. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The firm has a fifty day simple moving average of $28.95 and a two-hundred day simple moving average of $27.99. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $36.29.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share 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 analyst estimates 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 previous year, the business earned $0.67 EPS. On average, equities analysts anticipate that Pfizer Inc. will post 2.68 EPS for the current year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 5.85%. Pfizer’s dividend payout ratio (DPR) is -2,800.00%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. UBS Group boosted their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Monday, August 19th. Finally, Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Eight 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. Based on data from MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and an average target price of $34.54.

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.