Korea Investment CORP cut its holdings in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 8.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,372,955 shares of the biopharmaceutical company’s stock after selling 392,289 shares during the quarter. Korea Investment CORP owned 0.08% of Pfizer worth $160,400,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. D.A. Davidson & CO. boosted its stake in Pfizer by 5.9% during the 2nd quarter. D.A. Davidson & CO. now owns 714,352 shares of the biopharmaceutical company’s stock worth $26,202,000 after purchasing an additional 40,015 shares during the last quarter. Penserra Capital Management LLC raised its holdings in shares of Pfizer by 2,308.6% during the 2nd quarter. Penserra Capital Management LLC now owns 36,562 shares of the biopharmaceutical company’s stock worth $1,340,000 after acquiring an additional 35,044 shares during the period. Letko Brosseau & Associates Inc. raised its holdings in shares of Pfizer by 25.3% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 2,075,245 shares of the biopharmaceutical company’s stock worth $76,120,000 after acquiring an additional 419,502 shares during the period. Osaic Holdings Inc. raised its holdings in shares of Pfizer by 22.0% during the 2nd quarter. Osaic Holdings Inc. now owns 3,057,916 shares of the biopharmaceutical company’s stock worth $93,574,000 after acquiring an additional 551,235 shares during the period. Finally, Altrius Capital Management Inc raised its holdings in shares of Pfizer by 2.2% during the 2nd quarter. Altrius Capital Management Inc now owns 84,064 shares of the biopharmaceutical company’s stock worth $3,083,000 after acquiring an additional 1,842 shares during the period. 68.05% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts recently issued reports on PFE shares. Jefferies Financial Group upgraded shares of Pfizer from a “hold” rating to a “buy” rating and boosted their price objective for the company from $38.00 to $39.00 in a report on Monday, October 16th. Citigroup dropped their target price on Pfizer from $42.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 16th. Morgan Stanley lowered their price objective on Pfizer from $39.00 to $37.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 1st. Truist Financial cut their target price on shares of Pfizer from $62.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, October 17th. Finally, JPMorgan Chase & Co. cut their target price on shares of Pfizer from $36.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, October 16th. Twelve research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Pfizer presently has an average rating of “Hold” and an average price target of $42.50.
View Our Latest Stock Analysis on PFE
Pfizer Stock Performance
Shares of NYSE PFE traded up $0.11 during mid-day trading on Tuesday, hitting $30.09. 9,997,916 shares of the company were exchanged, compared to its average volume of 25,481,725. The company has a quick ratio of 2.05, a current ratio of 2.38 and a debt-to-equity ratio of 0.63. The stock has a 50 day simple moving average of $31.89 and a 200-day simple moving average of $35.17. Pfizer Inc. has a 1-year low of $28.93 and a 1-year high of $54.93. The firm has a market cap of $169.90 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 1.91 and a beta of 0.63.
Pfizer (NYSE:PFE – Get Free Report) last released its earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.15. Pfizer had a return on equity of 16.72% and a net margin of 15.30%. The company had revenue of $13.23 billion during the quarter, compared to the consensus estimate of $13.77 billion. On average, sell-side analysts forecast that Pfizer Inc. will post 1.56 EPS for the current fiscal year.
Pfizer Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Friday, November 10th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date of this dividend is Thursday, November 9th. Pfizer’s dividend payout ratio (DPR) is currently 89.62%.
Pfizer Company Profile
Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women’s health under the Eliquis, Nurtec ODT/Vydura, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, 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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Pfizer, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Pfizer wasn’t on the list.
While Pfizer currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Source: marketbeat.com
