Pfizer Inc. (NYSE:PFE) Shares Sold by Abacus Planning Group Inc.

Abacus Planning Group Inc. cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 17.5% in the 2nd quarter, Holdings Channel reports. The fund owned 21,902 shares of the biopharmaceutical company’s stock after selling 4,657 shares during the period. Abacus Planning Group Inc.’s holdings in Pfizer were worth $613,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PFE. GUNN & Co INVESTMENT MANAGEMENT INC. acquired a new stake in shares of Pfizer during the fourth quarter valued at about $2,601,000. Gilbert & Cook Inc. grew its stake in shares of Pfizer by 3.8% during the fourth quarter. Gilbert & Cook Inc. now owns 25,651 shares of the biopharmaceutical company’s stock valued at $738,000 after acquiring an additional 945 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Pfizer by 12.2% during the fourth quarter. Victory Capital Management Inc. now owns 5,071,853 shares of the biopharmaceutical company’s stock valued at $146,019,000 after acquiring an additional 552,778 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new position in shares of Pfizer during the fourth quarter worth about $37,000. Finally, First Trust Direct Indexing L.P. grew its stake in Pfizer by 17.3% in the fourth quarter. First Trust Direct Indexing L.P. now owns 35,675 shares of the biopharmaceutical company’s stock worth $1,027,000 after purchasing an additional 5,269 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Stock Up 1.0 %

Shares of PFE stock opened at $29.01 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The business has a 50 day moving average of $28.99 and a two-hundred day moving average of $28.01. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $36.29.

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

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 5.79%. Pfizer’s dividend payout ratio is presently -2,799.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Monday, August 19th. Barclays lifted their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, 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. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.