Pfizer Inc. (NYSE:PFE) Shares Sold by Holderness Investments Co.

Holderness Investments Co. lessened its holdings in Pfizer Inc. (NYSE:PFE) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 98,903 shares of the biopharmaceutical company’s stock after selling 1,677 shares during the period. Holderness Investments Co.’s holdings in Pfizer were worth $2,767,000 as of its most recent filing with the Securities & Exchange Commission.

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

Pfizer Stock Down 0.8 %

PFE stock opened at $29.42 on Friday. 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 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 market capitalization of $166.71 billion, a P/E ratio of -490.25, a PEG ratio of 1.05 and a beta of 0.68. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $34.11.

Pfizer (NYSE:PFE) last released its earnings results 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 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%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.67 EPS. On average, equities research analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

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 dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s dividend payout ratio is presently -2,799.53%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Monday, September 16th. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. UBS Group upped their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Wells Fargo & Company boosted their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research note 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 given a strong buy rating to the company. According to data from MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and a consensus target price 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.