1ST Source Bank Lowers Stock Holdings in Pfizer Inc. (NYSE:PFE)

1ST Source Bank decreased its position in shares of Pfizer Inc. (NYSE:PFE) by 32.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 87,771 shares of the biopharmaceutical company’s stock after selling 41,452 shares during the quarter. 1ST Source Bank’s holdings in Pfizer were worth $2,456,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in 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 last quarter. Norges Bank bought a new stake in Pfizer in the 4th quarter valued at $2,129,927,000. Van ECK Associates Corp increased its holdings in Pfizer by 1.8% in the 2nd quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock valued at $450,593,000 after acquiring an additional 290,760 shares during the last quarter. Federated Hermes Inc. increased its holdings in Pfizer by 3.3% in the 2nd quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after acquiring an additional 470,003 shares during the last quarter. Finally, Thornburg Investment Management Inc. increased its holdings in Pfizer by 10.3% in the 2nd quarter. Thornburg Investment Management Inc. now owns 9,803,509 shares of the biopharmaceutical company’s stock valued at $274,302,000 after acquiring an additional 912,156 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

NYSE PFE opened at $29.27 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 firm’s 50 day moving average price is $29.21 and its 200-day moving average price is $28.11. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $34.42. The company has a market cap of $165.86 billion, a PE ratio of -487.75, a P/E/G ratio of 1.04 and a beta of 0.68.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. The company 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%. Pfizer’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $0.67 earnings per share. Sell-side analysts forecast that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were issued a $0.42 dividend. The ex-dividend date was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.74%. Pfizer’s dividend payout ratio is currently -2,799.53%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PFE shares. UBS Group lifted their price target on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Monday, September 9th. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Barclays upped their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.