Focused Wealth Management Inc decreased its position in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 11.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,304 shares of the biopharmaceutical company’s stock after selling 13,379 shares during the quarter. Focused Wealth Management Inc’s holdings in Pfizer were worth $2,946,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of PFE. Wellington Management Group LLP increased its stake in Pfizer by 4.9% during 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 purchasing an additional 11,099,024 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Pfizer by 8.8% during the fourth 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 during the last quarter. Norges Bank acquired a new position in shares of Pfizer during the fourth quarter valued at about $2,129,927,000. Massachusetts Financial Services Co. MA increased its position in shares of Pfizer by 13.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after acquiring an additional 8,298,920 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in Pfizer by 21.8% in the 1st quarter. Van ECK Associates Corp now owns 15,813,328 shares of the biopharmaceutical company’s stock valued at $438,820,000 after acquiring an additional 2,829,178 shares in the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.
Pfizer Price Performance
Pfizer stock opened at $29.01 on Friday. The firm has a 50 day moving average price of $28.99 and a 200-day moving average price of $28.01. 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 Inc. has a twelve month low of $25.20 and a twelve month high of $36.29.
Pfizer Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.79%. The ex-dividend date is Friday, July 26th. Pfizer’s payout ratio is presently -2,799.53%.
Wall Street Analyst Weigh In
A number of analysts have commented on the company. Barclays boosted their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Monday, August 19th. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Daiwa Capital Markets upgraded shares of 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 note on Wednesday, August 7th. Finally, UBS Group raised their price target on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.
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