Crestwood Advisors Group LLC Sells 10,194 Shares of Pfizer Inc. (NYSE:PFE)

Crestwood Advisors Group LLC decreased its holdings in Pfizer Inc. (NYSE:PFE) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 134,204 shares of the biopharmaceutical company’s stock after selling 10,194 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Pfizer were worth $3,755,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PFE. Wellington Management Group LLP lifted 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 valued at $6,886,849,000 after acquiring an additional 11,099,024 shares during the period. Charles Schwab Investment Management Inc. lifted its position 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 in the last quarter. Norges Bank bought a new position in Pfizer in the 4th quarter valued at $2,129,927,000. 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 valued at $1,972,300,000 after acquiring an additional 8,298,920 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Pfizer by 1.8% during the 2nd quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock valued at $450,593,000 after acquiring an additional 290,760 shares during the last quarter. 68.36% of the stock is owned by institutional investors.

Pfizer Trading Up 1.0 %

Shares of NYSE:PFE opened at $29.01 on Tuesday. The stock has a market cap of $164.39 billion, a PE ratio of -483.50, a P/E/G ratio of 1.02 and a beta of 0.69. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $36.29. The business has a 50 day moving average of $29.01 and a 200-day moving average of $28.03.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.14. The business had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 EPS. As a group, equities research analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s dividend payout ratio is -2,800.00%.

Analysts Set New Price Targets

A number of research firms recently commented on PFE. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Monday, August 19th. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and upped their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Wells Fargo & Company lifted their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, UBS Group upped their price objective on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.