Mackenzie Financial Corp Sells 893,578 Shares of Pfizer Inc. (NYSE:PFE)

Mackenzie Financial Corp cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 50.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 891,118 shares of the biopharmaceutical company’s stock after selling 893,578 shares during the period. Mackenzie Financial Corp’s holdings in Pfizer were worth $24,933,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in shares of Pfizer by 4.9% in 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 purchasing an additional 11,099,024 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Pfizer by 3.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after acquiring an additional 2,241,609 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Pfizer by 1.8% during the second quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after acquiring an additional 290,760 shares during the period. Federated Hermes Inc. lifted its position in Pfizer by 3.3% in the 2nd quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after acquiring an additional 470,003 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Pfizer by 2.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock worth $287,077,000 after purchasing an additional 238,850 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PFE has been the topic of several recent research reports. Wells Fargo & Company boosted their price target on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Barclays boosted their target price on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, UBS Group raised their target price 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 currently has an average rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Trading Up 0.4 %

Shares of NYSE:PFE opened at $29.09 on Friday. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $34.11. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The company has a market capitalization of $164.84 billion, a P/E ratio of -484.75, a price-to-earnings-growth ratio of 1.27 and a beta of 0.68. The company has a 50-day simple moving average of $29.31 and a 200 day simple moving average of $28.29.

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

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.