Pfizer Inc. (NYSE:PFE) Shares Sold by First City Capital Management Inc.

First City Capital Management Inc. decreased its stake in shares of Pfizer Inc. (NYSE:PFE) by 9.3% during the second quarter, HoldingsChannel reports. The firm owned 45,583 shares of the biopharmaceutical company’s stock after selling 4,699 shares during the quarter. First City Capital Management Inc.’s holdings in Pfizer were worth $1,275,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FAS Wealth Partners Inc. lifted its position in Pfizer by 1.3% during the 2nd quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock worth $736,000 after acquiring an additional 342 shares during the period. Sachetta LLC increased its holdings in Pfizer by 7.3% in the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after buying an additional 342 shares during the period. Ironvine Capital Partners LLC raised its position in Pfizer by 2.1% during the 1st quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock worth $470,000 after buying an additional 353 shares during the last quarter. Secure Asset Management LLC raised its position in Pfizer by 0.6% during the 2nd quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock worth $1,632,000 after buying an additional 353 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. boosted its holdings in shares of Pfizer by 0.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock valued at $1,180,000 after acquiring an additional 355 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PFE shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Monday, September 16th. Wells Fargo & Company raised their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Barclays upped their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Stock Down 0.8 %

PFE stock opened at $29.42 on Friday. The stock has a market capitalization of $166.71 billion, a P/E ratio of -490.25, a P/E/G ratio of 1.05 and a beta of 0.68. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $34.11. The firm has a 50-day simple moving average of $29.36 and a 200-day simple moving average of $28.24. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating 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 positive return on equity of 8.42% and a negative net margin of 4.66%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.67 earnings per share. Equities analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 5.71%. Pfizer’s payout ratio is -2,799.53%.

Pfizer Company 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.