Pfizer Inc. (NYSE:PFE) Position Cut by Angeles Investment Advisors LLC

Angeles Investment Advisors LLC lowered its position in shares of Pfizer Inc. (NYSE:PFE) by 17.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 16,847 shares of the biopharmaceutical company’s stock after selling 3,650 shares during the period. Angeles Investment Advisors LLC’s holdings in Pfizer were worth $471,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of PFE. Bcwm LLC bought a new position in Pfizer in the 2nd quarter worth about $4,781,000. Valley Forge Investment Consultants Inc. ADV bought a new position in Pfizer in the 2nd quarter worth approximately $169,000. Redwood Wealth Management Group LLC increased its position in Pfizer by 6.0% in the 2nd quarter. Redwood Wealth Management Group LLC now owns 24,865 shares of the biopharmaceutical company’s stock valued at $696,000 after acquiring an additional 1,405 shares during the period. Quilter Plc raised its stake in Pfizer by 7.3% during the 2nd quarter. Quilter Plc now owns 1,688,735 shares of the biopharmaceutical company’s stock valued at $47,251,000 after acquiring an additional 114,948 shares in the last quarter. Finally, Weik Capital Management boosted its position in Pfizer by 2.2% during the 2nd quarter. Weik Capital Management now owns 35,630 shares of the biopharmaceutical company’s stock worth $997,000 after acquiring an additional 765 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Performance

Shares of NYSE PFE opened at $29.27 on Monday. The stock’s fifty day simple moving average is $29.21 and its 200 day simple moving average is $28.13. The stock has a market capitalization of $165.86 billion, a price-to-earnings ratio of -487.83, a PEG 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. 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 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter last year, the business posted $0.67 EPS. Pfizer’s revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were given a $0.42 dividend. The ex-dividend date was Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 5.74%. Pfizer’s dividend payout ratio (DPR) is presently -2,800.00%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Monday, September 9th. Wells Fargo & Company boosted their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, Daiwa Capital Markets upgraded 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 report on Wednesday, August 7th. Eight investment 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 company’s stock. According to MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus target price 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.