Rathbones Group PLC Sells 1,402 Shares of Pfizer Inc. (NYSE:PFE)

Rathbones Group PLC trimmed its holdings in Pfizer Inc. (NYSE:PFE) by 0.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 595,858 shares of the biopharmaceutical company’s stock after selling 1,402 shares during the quarter. Rathbones Group PLC’s holdings in Pfizer were worth $16,672,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Wellington Management Group LLP boosted its position 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 valued at $6,886,849,000 after acquiring an additional 11,099,024 shares during the period. Van ECK Associates Corp lifted its position in Pfizer by 1.8% in the second quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after purchasing an additional 290,760 shares during the period. Federated Hermes Inc. lifted its position in Pfizer by 3.3% in the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after purchasing an additional 470,003 shares during the period. Envestnet Asset Management Inc. lifted its position in Pfizer by 2.4% in the second quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock worth $287,077,000 after purchasing an additional 238,850 shares during the period. Finally, Thornburg Investment Management Inc. lifted its position in Pfizer by 10.3% in the second quarter. Thornburg Investment Management Inc. now owns 9,803,509 shares of the biopharmaceutical company’s stock worth $274,302,000 after purchasing an additional 912,156 shares during the period. 68.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

PFE has been the subject of several research reports. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Barclays lifted their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” 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 research note on Monday, September 9th. Finally, Wells Fargo & Company boosted their target price on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Stock Performance

Shares of NYSE:PFE opened at $29.27 on Monday. The stock has a market capitalization of $165.86 billion, a P/E ratio of -487.83, a P/E/G ratio of 1.04 and a beta of 0.68. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $34.42. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average price of $29.21 and a two-hundred day moving average price of $28.13.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.14. The firm had revenue of $13.28 billion during 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 company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.67 EPS. Equities analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were issued 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 yield of 5.74%. Pfizer’s dividend payout ratio is currently -2,800.00%.

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.