Foster Group Inc. Reduces Stock Holdings in Pfizer Inc. (NYSE:PFE)

Foster Group Inc. cut its holdings in Pfizer Inc. (NYSE:PFE) by 2.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,027 shares of the biopharmaceutical company’s stock after selling 637 shares during the period. Foster Group Inc.’s holdings in Pfizer were worth $812,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Pfizer during the 4th quarter worth approximately $2,129,927,000. Wellington Management Group LLP raised its holdings in shares of Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after acquiring an additional 11,099,024 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Pfizer by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock valued at $2,985,783,000 after acquiring an additional 8,473,686 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Pfizer by 13.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after acquiring an additional 8,298,920 shares during the last quarter. Finally, Swedbank AB purchased a new stake in Pfizer during the 1st quarter worth about $172,902,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Trading Up 1.0 %

NYSE:PFE traded up $0.29 on Friday, hitting $29.01. 37,137,599 shares of the stock were exchanged, compared to its average volume of 38,496,418. The stock has a fifty day moving average of $28.99 and a 200-day moving average of $28.01. The stock has a market cap of $164.39 billion, a PE ratio of -483.50, a PEG ratio of 0.98 and a beta of 0.69. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $36.29.

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, topping analysts’ consensus estimates of $0.46 by $0.14. The firm had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. As a group, equities analysts expect that Pfizer Inc. will post 2.68 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 5.79%. Pfizer’s payout ratio is -2,800.00%.

Analysts Set New Price Targets

Several research firms have issued reports on PFE. Barclays raised their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Monday, August 19th. Eight equities research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.54.

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.