Dai ichi Life Insurance Company Ltd Lowers Stock Holdings in Pfizer Inc. (NYSE:PFE)

Dai ichi Life Insurance Company Ltd lessened its holdings in shares of Pfizer Inc. (NYSE:PFE) by 6.3% during the second quarter, HoldingsChannel reports. The firm owned 183,824 shares of the biopharmaceutical company’s stock after selling 12,255 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Pfizer were worth $5,143,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Olistico Wealth LLC purchased a new stake in Pfizer in the 2nd quarter valued at about $25,000. MFA Wealth Advisors LLC purchased a new stake in Pfizer in the second quarter valued at approximately $29,000. Creekmur Asset Management LLC acquired a new position in Pfizer during the fourth quarter worth approximately $32,000. Trivant Custom Portfolio Group LLC raised its stake in Pfizer by 100.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares during the period. Finally, Financial Connections Group Inc. purchased a new stake in shares of Pfizer during the 2nd quarter valued at $34,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

PFE stock opened at $29.27 on Friday. The company has a market capitalization of $165.86 billion, a PE ratio of -487.75, a P/E/G ratio of 1.04 and a beta of 0.68. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The stock’s 50 day moving average is $29.21 and its two-hundred day moving average is $28.12. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $34.42.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter last year, the company posted $0.67 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders 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 of this dividend was Friday, July 26th. Pfizer’s payout ratio is -2,799.53%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Monday, September 9th. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. 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 report on Wednesday, July 31st. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. 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.