Grandview Asset Management LLC Reduces Stock Holdings in Pfizer Inc. (NYSE:PFE)

Grandview Asset Management LLC lowered its position in Pfizer Inc. (NYSE:PFEGet Rating) by 20.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,142 shares of the biopharmaceutical company’s stock after selling 3,055 shares during the quarter. Grandview Asset Management LLC’s holdings in Pfizer were worth $637,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PFE. Vanguard Group Inc. increased its position in Pfizer by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 479,065,273 shares of the biopharmaceutical company’s stock worth $24,801,210,000 after purchasing an additional 13,790,348 shares in the last quarter. State Street Corp boosted its stake in Pfizer by 0.7% in the 1st quarter. State Street Corp now owns 286,854,205 shares of the biopharmaceutical company’s stock worth $14,850,442,000 after buying an additional 2,037,373 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Pfizer by 13.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 59,828,849 shares of the biopharmaceutical company’s stock worth $3,097,341,000 after buying an additional 6,972,650 shares during the last quarter. Norges Bank acquired a new stake in Pfizer in the 4th quarter worth about $3,351,891,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in Pfizer by 28.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 43,391,119 shares of the biopharmaceutical company’s stock worth $2,246,359,000 after buying an additional 9,537,621 shares during the last quarter. Hedge funds and other institutional investors own 67.90% of the company’s stock.

Pfizer Price Performance

PFE stock opened at $46.03 on Monday. The company has a quick ratio of 1.20, a current ratio of 1.42 and a debt-to-equity ratio of 0.39. Pfizer Inc. has a 52-week low of $40.94 and a 52-week high of $61.71. The stock’s 50 day moving average is $48.99 and its two-hundred day moving average is $50.45. The company has a market capitalization of $258.34 billion, a PE ratio of 9.01, a P/E/G ratio of 0.56 and a beta of 0.70.

Pfizer (NYSE:PFEGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.09. Pfizer had a return on equity of 43.18% and a net margin of 28.92%. The company had revenue of $27.74 billion for the quarter, compared to the consensus estimate of $26.20 billion. During the same period in the previous year, the business earned $1.07 EPS. Pfizer’s revenue for the quarter was up 46.8% compared to the same quarter last year. Analysts predict that Pfizer Inc. will post 6.54 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Wednesday, June 29th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.48%. Pfizer’s dividend payout ratio (DPR) is 31.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PFE. Morgan Stanley decreased their price target on Pfizer from $52.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Friday, July 8th. UBS Group set a $59.00 price target on Pfizer in a research note on Thursday, September 1st. SVB Leerink reduced their price objective on Pfizer from $55.00 to $53.00 and set a “market perform” rating on the stock in a research note on Friday, July 29th. Berenberg Bank set a $44.00 price objective on Pfizer in a research note on Wednesday, September 14th. Finally, The Goldman Sachs Group set a $50.00 price objective on Pfizer in a research note on Thursday, September 1st. Nine equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

About Pfizer

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Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and women's health under the Premarin family and Eliquis brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines, and oral COVID-19 treatment under the Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga, and Paxlovid brands.

Further Reading

Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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