Brighton Jones LLC Sells 1,053,385 Shares of Pfizer Inc. (NYSE:PFE)

Brighton Jones LLC trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 95.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,201 shares of the biopharmaceutical company’s stock after selling 1,053,385 shares during the quarter. Brighton Jones LLC’s holdings in Pfizer were worth $1,395,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA grew its position in 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 valued at $2,008,798,000 after buying an additional 2,241,609 shares during the period. Van ECK Associates Corp grew its position in Pfizer by 1.8% during the second quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock valued at $450,593,000 after buying an additional 290,760 shares during the period. Federated Hermes Inc. boosted its position in shares of Pfizer by 3.3% in the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after purchasing an additional 470,003 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Pfizer by 2.4% in the second 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. Finally, Thornburg Investment Management Inc. boosted its position in shares of Pfizer by 10.3% in the second quarter. Thornburg Investment Management Inc. now owns 9,803,509 shares of the biopharmaceutical company’s stock worth $274,302,000 after purchasing an additional 912,156 shares during the period. 68.36% of the stock is currently owned by institutional investors.

Pfizer Price Performance

Pfizer stock opened at $28.65 on Friday. The company has a market cap of $162.35 billion, a price-to-earnings ratio of -62.28, a PEG ratio of 1.01 and a beta of 0.67. The firm’s fifty day moving average is $29.07 and its 200 day moving average is $28.48. 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 52-week low of $25.20 and a 52-week high of $31.54.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating 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 business had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter in the prior year, the firm posted $0.67 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts forecast that Pfizer Inc. will post 2.67 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.86%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s payout ratio is presently -365.21%.

Analyst Upgrades and Downgrades

PFE has been the subject of a number of recent analyst reports. Sanford C. Bernstein initiated coverage on shares of Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target for the company. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Barclays upped their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Wells Fargo & Company upped 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, 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 report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.91.

Pfizer 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.