Raymond James & Associates Has $239.47 Million Stock Position in Pfizer Inc. (NYSE:PFE)

Raymond James & Associates reduced its holdings in shares of Pfizer Inc. (NYSE:PFE) by 2.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,558,720 shares of the biopharmaceutical company’s stock after selling 204,765 shares during the quarter. Raymond James & Associates owned approximately 0.15% of Pfizer worth $239,473,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Wellington Management Group LLP grew its holdings 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 buying an additional 11,099,024 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Pfizer by 8.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock valued at $2,985,783,000 after buying an additional 8,473,686 shares in the last quarter. Norges Bank acquired a new position in Pfizer in the 4th quarter valued at $2,129,927,000. Massachusetts Financial Services Co. MA grew its holdings in Pfizer by 13.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after buying an additional 8,298,920 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Pfizer by 21.8% during the 1st quarter. Van ECK Associates Corp now owns 15,813,328 shares of the biopharmaceutical company’s stock worth $438,820,000 after purchasing an additional 2,829,178 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

PFE has been the topic of several analyst reports. UBS Group increased their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company increased 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. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Wednesday, July 31st. Morgan Stanley upped their price objective on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Finally, Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Eight 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, the company has an average rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Down 1.4 %

Shares of PFE traded down $0.41 during mid-day trading on Friday, reaching $28.30. 50,332,917 shares of the company were exchanged, compared to its average volume of 37,428,500. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $37.19. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The business has a 50 day simple moving average of $28.75 and a two-hundred day simple moving average of $27.90.

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 analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. During the same period last year, the company earned $0.67 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, research analysts forecast that Pfizer Inc. will post 2.68 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be paid a $0.42 dividend. The ex-dividend date is Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 5.94%. Pfizer’s dividend payout ratio (DPR) is presently -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.