Pfizer Inc. (NYSE:PFE) Shares Sold by Grassi Investment Management

Grassi Investment Management trimmed its holdings in Pfizer Inc. (NYSE:PFE) by 1.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,152 shares of the biopharmaceutical company’s stock after selling 700 shares during the quarter. Grassi Investment Management’s holdings in Pfizer were worth $1,046,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA boosted its holdings in Pfizer by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after purchasing an additional 2,241,609 shares during the last quarter. Van ECK Associates Corp boosted its holdings 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 valued at $450,593,000 after purchasing an additional 290,760 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Pfizer by 3.3% in the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after purchasing an additional 470,003 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings 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 valued at $287,077,000 after purchasing an additional 238,850 shares during the last quarter. Finally, Thornburg Investment Management Inc. boosted its holdings 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 valued at $274,302,000 after purchasing an additional 912,156 shares during the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PFE. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Wells Fargo & Company increased their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Wednesday. Seven analysts have rated the stock with a hold rating, six 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 company has an average rating of “Moderate Buy” and an average price target of $33.91.

Pfizer Stock Down 0.1 %

PFE stock opened at $28.84 on Thursday. The company has a market cap of $163.42 billion, a price-to-earnings ratio of -481.00, a PEG ratio of 1.02 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. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $31.54. The firm has a 50-day moving average of $29.07 and a two-hundred day moving average of $28.48.

Pfizer (NYSE:PFE) last released its quarterly earnings data 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 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%. Pfizer’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.67 EPS. As a group, analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.83%. Pfizer’s dividend payout ratio is currently -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.