Pfizer Inc. (NYSE:PFE) Shares Sold by AlphaCentric Advisors LLC

AlphaCentric Advisors LLC decreased its position in shares of Pfizer Inc. (NYSE:PFE) by 20.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,000 shares of the biopharmaceutical company’s stock after selling 35,000 shares during the quarter. Pfizer makes up about 2.9% of AlphaCentric Advisors LLC’s portfolio, making the stock its 4th biggest holding. AlphaCentric Advisors LLC’s holdings in Pfizer were worth $3,917,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PFE. Clifford Swan Investment Counsel LLC boosted its stake in shares of Pfizer by 4.7% in the 4th quarter. Clifford Swan Investment Counsel LLC now owns 417,070 shares of the biopharmaceutical company’s stock valued at $12,007,000 after buying an additional 18,611 shares during the period. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in shares of Pfizer in the 4th quarter worth $16,166,000. First Heartland Consultants Inc. raised its holdings in Pfizer by 43.3% during the fourth quarter. First Heartland Consultants Inc. now owns 13,013 shares of the biopharmaceutical company’s stock worth $375,000 after purchasing an additional 3,933 shares in the last quarter. ORG Partners LLC raised its stake in shares of Pfizer by 1,729.9% during the 2nd quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock worth $1,327,000 after buying an additional 44,458 shares in the last quarter. Finally, Kempner Capital Management Inc. purchased a new position in Pfizer in the first quarter worth $2,439,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PFE shares. Wells Fargo & Company lifted their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Morgan Stanley upped their target price on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. BMO Capital Markets restated 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 report on Thursday, August 1st. Finally, Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Performance

PFE stock traded up $0.02 on Monday, reaching $28.92. 16,403,924 shares of the company were exchanged, compared to its average volume of 38,871,281. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $36.94. The firm has a market capitalization of $163.88 billion, a PE ratio of -482.17, a PEG ratio of 0.98 and a beta of 0.69. The stock’s fifty day moving average price is $28.85 and its 200 day moving average price is $27.97. 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 (NYSE:PFE) last posted its earnings results 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. The business had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 earnings per share. On average, research analysts anticipate that Pfizer Inc. will post 2.68 EPS for the current fiscal year.

Pfizer Dividend Announcement

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

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.