Arcadia Investment Management Corp MI Sells 1,320 Shares of Pfizer Inc. (NYSE:PFE)

Arcadia Investment Management Corp MI reduced its holdings in Pfizer Inc. (NYSE:PFE) by 25.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,900 shares of the biopharmaceutical company’s stock after selling 1,320 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Pfizer were worth $109,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP grew its holdings in Pfizer by 4.9% in 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 buying an additional 11,099,024 shares during the last quarter. Norges Bank bought a new stake in shares of Pfizer in the fourth quarter valued at approximately $2,129,927,000. Massachusetts Financial Services Co. MA boosted its position in shares of Pfizer by 13.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after acquiring an additional 8,298,920 shares during the period. Van ECK Associates Corp increased its position 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 acquiring an additional 290,760 shares during the period. Finally, California State Teachers Retirement System raised its stake in Pfizer by 0.9% during the 1st quarter. California State Teachers Retirement System now owns 9,250,303 shares of the biopharmaceutical company’s stock valued at $256,696,000 after purchasing an additional 83,556 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors.

Pfizer Price Performance

Shares of NYSE PFE traded up $0.06 during midday trading on Friday, reaching $28.57. 5,886,196 shares of the company traded hands, compared to its average volume of 38,168,906. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $34.64. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The stock’s 50-day simple moving average is $29.05 and its 200-day simple moving average is $28.04. The firm has a market cap of $161.89 billion, a PE ratio of -475.09, a PEG ratio of 1.02 and a beta of 0.68.

Pfizer (NYSE:PFE) last announced 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. The firm had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $0.67 EPS. As a group, equities analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 5.88%. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Wall Street Analyst Weigh In

Several research firms have issued reports on PFE. UBS Group raised their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Monday, August 19th. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company upped their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer 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.