Pfizer Inc. (NYSE:PFE) Shares Sold by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. lowered its holdings in Pfizer Inc. (NYSE:PFE) by 19.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 241,418 shares of the biopharmaceutical company’s stock after selling 59,241 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Pfizer were worth $6,754,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wealth Advisors of Tampa Bay LLC raised its position in Pfizer by 2.7% in the second quarter. Wealth Advisors of Tampa Bay LLC now owns 144,439 shares of the biopharmaceutical company’s stock valued at $4,041,000 after purchasing an additional 3,800 shares during the period. Trust Investment Advisors purchased a new stake in shares of Pfizer during the 2nd quarter valued at about $1,259,000. Ieq Capital LLC lifted its position in Pfizer by 15.6% during the 2nd quarter. Ieq Capital LLC now owns 224,636 shares of the biopharmaceutical company’s stock worth $6,285,000 after acquiring an additional 30,388 shares in the last quarter. Brighton Jones LLC boosted its holdings in Pfizer by 800.9% in the 2nd quarter. Brighton Jones LLC now owns 1,101,586 shares of the biopharmaceutical company’s stock worth $30,822,000 after acquiring an additional 979,310 shares during the period. Finally, Intech Investment Management LLC grew its position in Pfizer by 30.3% in the second quarter. Intech Investment Management LLC now owns 725,663 shares of the biopharmaceutical company’s stock valued at $20,304,000 after acquiring an additional 168,724 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $28.00 to $34.00 in a research report 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. UBS Group lifted their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Barclays increased their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company lifted their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Performance

Pfizer stock opened at $29.42 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $34.11. The company has a fifty day moving average price of $29.36 and a two-hundred day moving average price of $28.22. The company has a market cap of $166.71 billion, a PE ratio of -490.25, a P/E/G ratio of 1.05 and a beta of 0.68.

Pfizer (NYSE:PFE) last announced its quarterly earnings data 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. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Research analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The business 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. This represents a $1.68 annualized dividend and a dividend yield of 5.71%. The ex-dividend date was Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is -2,799.53%.

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.