QRG Capital Management Inc. Sells 51,587 Shares of Pfizer Inc. (NYSE:PFE)

QRG Capital Management Inc. lessened its holdings in Pfizer Inc. (NYSE:PFE) by 10.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 465,176 shares of the biopharmaceutical company’s stock after selling 51,587 shares during the quarter. QRG Capital Management Inc.’s holdings in Pfizer were worth $13,016,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Clifford Swan Investment Counsel LLC raised 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 buying an additional 18,611 shares during the last quarter. LifePlan Financial LLC bought a new position in Pfizer in the 4th quarter valued at approximately $255,000. Cantor Fitzgerald Investment Advisors L.P. bought a new position in Pfizer in the 4th quarter valued at approximately $16,166,000. KLCM Advisors Inc. raised its holdings in Pfizer by 75.0% in the 4th quarter. KLCM Advisors Inc. now owns 173,793 shares of the biopharmaceutical company’s stock valued at $5,004,000 after buying an additional 74,487 shares during the last quarter. Finally, First Heartland Consultants Inc. raised its holdings in Pfizer by 43.3% during the 4th quarter. First Heartland Consultants Inc. now owns 13,013 shares of the biopharmaceutical company’s stock worth $375,000 after purchasing an additional 3,933 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Trading Down 0.7 %

Shares of PFE stock traded down $0.21 during trading hours on Friday, hitting $28.55. 25,795,602 shares of the company were exchanged, compared to its average volume of 39,340,824. The firm has a market cap of $161.78 billion, a P/E ratio of -475.75, a P/E/G ratio of 1.02 and a beta of 0.69. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $37.19. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.78 and a current ratio of 0.86. The company has a 50 day simple moving average of $28.80 and a two-hundred day simple moving average of $27.86.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter last year, the firm posted $0.67 EPS. Pfizer’s revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Pfizer Inc. will post 2.68 EPS for the current year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 5.88%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s payout ratio is currently -2,799.53%.

Analyst Ratings Changes

Several research analysts have issued reports on PFE shares. Barclays raised their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. BMO Capital Markets restated an “outperform” rating and set a $36.00 price target (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Wednesday, July 31st. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company raised their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Pfizer has an average rating of “Moderate Buy” and an average price target of $34.54.

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.