Rock Point Advisors LLC Lowers Position in Pfizer Inc. (NYSE:PFE)

Rock Point Advisors LLC decreased its stake in Pfizer Inc. (NYSE:PFE) by 0.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,410 shares of the biopharmaceutical company’s stock after selling 843 shares during the quarter. Rock Point Advisors LLC’s holdings in Pfizer were worth $2,558,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. FAS Wealth Partners Inc. increased its holdings in Pfizer by 1.3% in the 2nd quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock worth $736,000 after acquiring an additional 342 shares in the last quarter. Sachetta LLC increased its stake in shares of 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 purchasing an additional 342 shares in the last quarter. Ironvine Capital Partners LLC increased its stake in shares of Pfizer by 2.1% during the first 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 in the last quarter. Secure Asset Management LLC lifted its stake in 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 buying an additional 353 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. boosted its holdings in Pfizer by 0.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock worth $1,180,000 after buying an additional 355 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Up 0.4 %

Shares of NYSE PFE opened at $29.27 on Friday. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $34.42. The company has a market capitalization of $165.86 billion, a P/E ratio of -487.75, a P/E/G ratio of 1.04 and a beta of 0.68. The company has a 50 day simple moving average of $29.21 and a 200-day simple moving average of $28.12. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60.

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

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date was Friday, July 26th. Pfizer’s dividend payout ratio is presently -2,799.53%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PFE shares. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and raised their target price for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. UBS Group raised 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. Wells Fargo & Company increased their target price on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Monday, September 9th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.

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.