American Century Companies Inc. Sells 514,840 Shares of Pfizer Inc. (NYSE:PFE)

American Century Companies Inc. trimmed its stake in Pfizer Inc. (NYSE:PFE) by 16.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,542,872 shares of the biopharmaceutical company’s stock after selling 514,840 shares during the period. American Century Companies Inc.’s holdings in Pfizer were worth $71,150,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Olistico Wealth LLC bought a new stake in shares of Pfizer during the 2nd quarter worth $25,000. MFA Wealth Advisors LLC bought a new stake in Pfizer during the second quarter valued at about $29,000. Creekmur Asset Management LLC acquired a new stake in shares of Pfizer in the fourth quarter valued at about $32,000. Trivant Custom Portfolio Group LLC increased its stake in shares of Pfizer by 100.0% in the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares during the period. Finally, Financial Connections Group Inc. acquired a new position in shares of Pfizer during the 2nd quarter worth about $34,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Trading Up 0.4 %

Shares of PFE opened at $29.27 on Friday. The stock has a 50 day simple moving average of $29.21 and a 200-day simple moving average of $28.12. 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 stock has a market cap of $165.86 billion, a PE ratio of -487.75, a PEG ratio of 1.04 and a beta of 0.68. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $34.42.

Pfizer (NYSE:PFE) last issued 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. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same period last year, the business earned $0.67 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts predict that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Barclays increased their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. UBS Group boosted their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Monday, September 9th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.