Pfizer Inc. (NYSE:PFE) Shares Sold by LSV Asset Management

LSV Asset Management lessened its holdings in shares of Pfizer Inc. (NYSE:PFE) by 4.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,751,750 shares of the biopharmaceutical company’s stock after selling 603,490 shares during the quarter. LSV Asset Management’s holdings in Pfizer were worth $328,814,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PFE. Wellington Management Group LLP raised its stake in shares of Pfizer by 4.9% in the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after acquiring an additional 11,099,024 shares during the period. Norges Bank purchased a new position in Pfizer in the fourth quarter valued at about $2,129,927,000. Massachusetts Financial Services Co. MA lifted 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 worth $1,972,300,000 after purchasing an additional 8,298,920 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Pfizer by 1.8% in the second quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock valued at $450,593,000 after buying an additional 290,760 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in shares of Pfizer by 0.9% in the first quarter. California State Teachers Retirement System now owns 9,250,303 shares of the biopharmaceutical company’s stock valued at $256,696,000 after buying an additional 83,556 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

Shares of NYSE PFE traded up $0.05 during midday trading on Friday, hitting $28.56. The company’s stock had a trading volume of 31,214,484 shares, compared to its average volume of 38,328,773. The firm has a market cap of $161.84 billion, a P/E ratio of -476.00, a P/E/G ratio of 1.02 and a beta of 0.68. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $34.64. The firm’s fifty day moving average price is $29.06 and its 200-day moving average price is $28.05. 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 announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping 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 positive return on equity of 8.42% and a negative net margin of 4.66%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 EPS. On average, sell-side analysts forecast that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 5.88%. Pfizer’s dividend payout ratio is currently -2,800.00%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. 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. Wells Fargo & Company lifted their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.54.

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.