Pfizer Inc. (NYSE:PFE) Shares Sold by Strategic Wealth Partners Ltd.

Strategic Wealth Partners Ltd. cut its holdings in Pfizer Inc. (NYSE:PFE) by 62.7% during the third quarter, HoldingsChannel reports. The firm owned 14,109 shares of the biopharmaceutical company’s stock after selling 23,723 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Pfizer were worth $408,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PFE. Wellington Management Group LLP increased its position 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 period. Marshall Wace LLP increased its holdings in shares of Pfizer by 279.3% in the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after purchasing an additional 8,378,173 shares during the period. Swedbank AB purchased a new stake in shares of Pfizer during the first quarter worth approximately $172,902,000. Pzena Investment Management LLC lifted its holdings in shares of Pfizer by 181.6% during the first quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock worth $212,855,000 after purchasing an additional 4,947,000 shares during the period. Finally, FIL Ltd lifted its holdings in shares of Pfizer by 97.1% during the fourth quarter. FIL Ltd now owns 7,582,518 shares of the biopharmaceutical company’s stock worth $218,301,000 after purchasing an additional 3,734,595 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PFE has been the subject of a number of analyst reports. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. UBS Group lifted their price objective on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Barclays lifted their price target on Pfizer from $30.00 to $32.00 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 given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Stock Performance

NYSE:PFE opened at $30.20 on Thursday. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $33.92. The company has a market capitalization of $171.10 billion, a P/E ratio of -503.25, a price-to-earnings-growth ratio of 1.23 and a beta of 0.67. 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 moving average price of $29.09 and a two-hundred day moving average price of $28.35.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) 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 the consensus estimate 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 firm posted $0.67 EPS. As a group, research analysts expect 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 will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 5.56%. Pfizer’s payout ratio is -2,800.00%.

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.