Pfizer Inc. (NYSE:PFE) Shares Sold by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. reduced its position in Pfizer Inc. (NYSE:PFE) by 5.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,435 shares of the biopharmaceutical company’s stock after selling 6,654 shares during the period. Jupiter Asset Management Ltd.’s holdings in Pfizer were worth $3,062,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. FAS Wealth Partners Inc. increased its position in shares of Pfizer by 1.3% in the second quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock worth $736,000 after acquiring an additional 342 shares in the last quarter. Sachetta LLC raised its position in Pfizer by 7.3% in the second quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock valued at $140,000 after purchasing an additional 342 shares during the period. Ironvine Capital Partners LLC lifted its stake in shares of Pfizer by 2.1% during the first quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock worth $470,000 after purchasing an additional 353 shares in the last quarter. Secure Asset Management LLC boosted its position in shares of Pfizer by 0.6% in the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock worth $1,632,000 after buying an additional 353 shares during the period. Finally, Patrick M Sweeney & Associates Inc. grew its stake in shares of Pfizer by 0.8% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock valued at $1,180,000 after buying an additional 355 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Up 0.4 %

Shares of NYSE:PFE opened at $29.27 on Friday. The company’s fifty day moving average is $29.21 and its two-hundred day moving average is $28.11. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $34.42. The stock has a market capitalization of $165.86 billion, a price-to-earnings ratio of -487.75, a price-to-earnings-growth ratio of 1.04 and a beta of 0.68.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share 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 8.42%. The firm had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same quarter in the prior year, the business earned $0.67 earnings per share. Pfizer’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts anticipate that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 5.74%. Pfizer’s dividend payout ratio is currently -2,799.53%.

Analysts Set New Price Targets

Several equities analysts recently commented on PFE shares. 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. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Monday, September 9th. UBS Group raised their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Barclays boosted their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Pfizer has a consensus rating of “Moderate Buy” and an average price target 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.