Cadinha & Co. LLC Sells 4,659 Shares of Pfizer Inc. (NYSE:PFE)

Cadinha & Co. LLC lowered its stake in Pfizer Inc. (NYSE:PFE) by 19.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,341 shares of the biopharmaceutical company’s stock after selling 4,659 shares during the period. Cadinha & Co. LLC’s holdings in Pfizer were worth $541,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Intact Investment Management Inc. grew its stake in shares of Pfizer by 9.9% in the second quarter. Intact Investment Management Inc. now owns 423,200 shares of the biopharmaceutical company’s stock worth $11,841,000 after acquiring an additional 38,200 shares during the last quarter. Canal Capital Management LLC boosted its stake in Pfizer by 31.3% in the 2nd quarter. Canal Capital Management LLC now owns 26,558 shares of the biopharmaceutical company’s stock worth $743,000 after purchasing an additional 6,328 shares in the last quarter. Birch Hill Investment Advisors LLC grew its position in Pfizer by 9.8% during the 2nd quarter. Birch Hill Investment Advisors LLC now owns 28,042 shares of the biopharmaceutical company’s stock valued at $785,000 after purchasing an additional 2,500 shares during the last quarter. WP Advisors LLC increased its stake in Pfizer by 24.6% during the 2nd quarter. WP Advisors LLC now owns 81,294 shares of the biopharmaceutical company’s stock valued at $2,275,000 after purchasing an additional 16,053 shares in the last quarter. Finally, VAUGHAN & Co SECURITIES INC. raised its holdings in Pfizer by 43.6% in the second quarter. VAUGHAN & Co SECURITIES INC. now owns 27,570 shares of the biopharmaceutical company’s stock worth $771,000 after buying an additional 8,370 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PFE. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their price target for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Monday, August 19th. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. UBS Group raised their price target on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Barclays boosted their price objective 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. Eight investment 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Stock Performance

Shares of PFE stock opened at $29.01 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 1 year low of $25.20 and a 1 year high of $36.29. The firm has a fifty day moving average price of $28.99 and a 200-day moving average price of $28.01.

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

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s payout ratio 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.