Pfizer Inc. (NYSE:PFE) Stock Holdings Cut by Hutchinson Capital Management CA

Hutchinson Capital Management CA lessened its position in Pfizer Inc. (NYSE:PFE) by 2.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,104 shares of the biopharmaceutical company’s stock after selling 799 shares during the period. Hutchinson Capital Management CA’s holdings in Pfizer were worth $954,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PFE. Wellington Management Group LLP boosted its position in shares of 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. Norges Bank acquired a new stake in Pfizer during the fourth quarter valued at approximately $2,129,927,000. Van ECK Associates Corp boosted its holdings in Pfizer by 1.8% during the second quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after buying an additional 290,760 shares in the last quarter. California State Teachers Retirement System grew its position in Pfizer by 0.9% in the first quarter. California State Teachers Retirement System now owns 9,250,303 shares of the biopharmaceutical company’s stock worth $256,696,000 after buying an additional 83,556 shares during the last quarter. Finally, Thornburg Investment Management Inc. increased its holdings in shares of Pfizer by 12.5% in the first quarter. Thornburg Investment Management Inc. now owns 8,891,353 shares of the biopharmaceutical company’s stock valued at $246,735,000 after buying an additional 988,451 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Up 2.9 %

PFE stock opened at $29.40 on Tuesday. The company has a 50 day moving average of $29.08 and a two-hundred day moving average of $28.07. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $34.62. The company has a market cap of $166.60 billion, a price-to-earnings ratio of -489.92, a PEG ratio of 1.00 and a beta of 0.68.

Pfizer (NYSE:PFE) last announced 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. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same period last year, the company earned $0.67 earnings per share. Pfizer’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that Pfizer Inc. will post 2.66 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 3rd. Investors of record on Friday, July 26th were paid a $0.42 dividend. The ex-dividend date was Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 5.71%. Pfizer’s payout ratio is -2,799.53%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PFE shares. UBS Group raised their price objective on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company lifted their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.