Pfizer Inc. (NYSE:PFE) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its holdings in Pfizer Inc. (NYSE:PFE) by 8.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,115,201 shares of the biopharmaceutical company’s stock after selling 106,687 shares during the period. Wedge Capital Management L L P NC’s holdings in Pfizer were worth $32,274,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PFE. LGT Group Foundation boosted its position in shares of Pfizer by 2.5% during the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock valued at $20,786,000 after acquiring an additional 18,274 shares during the last quarter. ORG Partners LLC lifted its holdings in Pfizer by 1,729.9% during the 2nd quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock worth $1,327,000 after buying an additional 44,458 shares during the last quarter. Kempner Capital Management Inc. purchased a new stake in shares of Pfizer during the 1st quarter worth approximately $2,439,000. Leo Wealth LLC purchased a new position in shares of Pfizer in the 4th quarter valued at $2,171,000. Finally, Commerzbank Aktiengesellschaft FI raised its stake in Pfizer by 29.1% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 342,361 shares of the biopharmaceutical company’s stock worth $9,579,000 after acquiring an additional 77,073 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Price Performance

NYSE:PFE traded down $0.17 during trading hours on Monday, reaching $28.99. 7,676,591 shares of the company traded hands, compared to its average volume of 37,243,805. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $33.92. The stock has a market cap of $164.27 billion, a P/E ratio of -483.33, a P/E/G ratio of 1.30 and a beta of 0.67. The firm’s 50-day moving average is $29.04 and its 200-day moving average is $28.39. 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 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 business had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.67 earnings per share. Equities research analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 5.80%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is currently -2,800.00%.

Wall Street Analyst Weigh In

PFE has been the topic of several research reports. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Wells Fargo & Company boosted their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group lifted their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Thursday, October 3rd. Finally, Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer 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.