Pfizer Inc. (NYSE:PFE) Stock Holdings Cut by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG lessened its position in Pfizer Inc. (NYSE:PFE) by 56.5% during the second quarter, Holdings Channel reports. The institutional investor owned 10,100 shares of the biopharmaceutical company’s stock after selling 13,100 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Pfizer were worth $283,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Tennessee Valley Asset Management Partners acquired a new stake in shares of Pfizer during the 4th quarter valued at $36,000. GUNN & Co INVESTMENT MANAGEMENT INC. purchased a new stake in shares of Pfizer during the fourth quarter valued at $2,601,000. Larson Financial Group LLC boosted its position in shares of Pfizer by 11.4% in the 4th quarter. Larson Financial Group LLC now owns 22,668 shares of the biopharmaceutical company’s stock valued at $653,000 after purchasing an additional 2,325 shares during the period. GAMMA Investing LLC purchased a new position in Pfizer in the 4th quarter worth about $342,000. Finally, NewSquare Capital LLC raised its holdings in Pfizer by 3.0% during the 4th quarter. NewSquare Capital LLC now owns 147,446 shares of the biopharmaceutical company’s stock worth $4,190,000 after buying an additional 4,354 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on PFE shares. BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 target price (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, UBS Group upped their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Eight 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Up 0.4 %

Shares of Pfizer stock traded up $0.12 during trading on Friday, hitting $28.90. 21,885,329 shares of the stock traded hands, compared to its average volume of 39,008,852. The stock has a market cap of $163.76 billion, a P/E ratio of -481.67, a PEG ratio of 0.98 and a beta of 0.69. The company has a fifty day moving average price of $28.85 and a two-hundred day moving average price of $27.96. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $36.94. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86.

Pfizer (NYSE:PFE) last posted its earnings results 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 negative net margin of 4.66% and a positive return on equity of 8.42%. The firm had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same period in the previous year, the company earned $0.67 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts predict that Pfizer Inc. will post 2.68 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.81%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s payout ratio is -2,800.00%.

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.