Pfizer Inc. (NYSE:PFE) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in shares of Pfizer Inc. (NYSE:PFE) by 36.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,018,744 shares of the biopharmaceutical company’s stock after selling 577,649 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Pfizer were worth $28,504,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Clifford Swan Investment Counsel LLC lifted its holdings in Pfizer by 4.7% in the 4th quarter. Clifford Swan Investment Counsel LLC now owns 417,070 shares of the biopharmaceutical company’s stock valued at $12,007,000 after purchasing an additional 18,611 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in Pfizer in the 4th quarter worth approximately $16,166,000. First Heartland Consultants Inc. raised its holdings in Pfizer by 43.3% in the 4th quarter. First Heartland Consultants Inc. now owns 13,013 shares of the biopharmaceutical company’s stock valued at $375,000 after acquiring an additional 3,933 shares during the last quarter. ORG Partners LLC boosted its holdings in shares of Pfizer by 1,729.9% during the second quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock worth $1,327,000 after purchasing an additional 44,458 shares during the last quarter. Finally, Kempner Capital Management Inc. purchased a new stake in shares of Pfizer in the first quarter valued at $2,439,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PFE. BMO Capital Markets reiterated an “outperform” rating and set a $36.00 price objective (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Morgan Stanley raised their price objective on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Barclays increased their price objective on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Finally, StockNews.com upgraded shares of 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Stock Performance

Shares of PFE opened at $28.84 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $36.94. The firm has a fifty day moving average of $28.89 and a 200-day moving average of $27.98. The company has a market cap of $163.40 billion, a price-to-earnings ratio of -480.58, a price-to-earnings-growth ratio of 0.98 and a beta of 0.69.

Pfizer (NYSE:PFE) last announced its quarterly earnings results 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. The company had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 EPS. As a group, equities analysts anticipate that Pfizer Inc. will post 2.68 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s 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.