Arnhold LLC Decreases Stock Holdings in Pfizer Inc. (NYSE:PFE)

Arnhold LLC lessened its stake in shares of Pfizer Inc. (NYSE:PFE) by 8.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 648,724 shares of the biopharmaceutical company’s stock after selling 62,124 shares during the quarter. Pfizer comprises about 1.9% of Arnhold LLC’s investment portfolio, making the stock its 17th biggest holding. Arnhold LLC’s holdings in Pfizer were worth $18,151,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PFE. Olistico Wealth LLC bought a new position in shares of Pfizer during the second quarter worth $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Pfizer during the 2nd quarter worth approximately $29,000. Creekmur Asset Management LLC purchased a new position in shares of Pfizer in the fourth quarter valued at $32,000. Trivant Custom Portfolio Group LLC increased its position in Pfizer by 100.0% in the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares during the last quarter. Finally, Financial Connections Group Inc. purchased a new stake in Pfizer during the second quarter valued at $34,000. 68.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Monday, August 19th. Barclays boosted their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group raised their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Price Performance

Shares of PFE stock opened at $29.01 on Tuesday. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $36.29. 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 firm has a market capitalization of $164.39 billion, a price-to-earnings ratio of -483.50, a PEG ratio of 1.02 and a beta of 0.69. The stock’s 50-day simple moving average is $29.01 and its 200-day simple moving average is $28.03.

Pfizer (NYSE:PFE) last posted its quarterly 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 business had revenue of $13.28 billion during 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 business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $0.67 earnings per share. As a group, equities analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company 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. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.79%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is -2,800.00%.

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.