Patriot Investment Management Group Inc. Sells 2,197 Shares of Pfizer Inc. (NYSE:PFE)

Patriot Investment Management Group Inc. reduced its holdings in shares of Pfizer Inc. (NYSE:PFE) by 10.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,749 shares of the biopharmaceutical company’s stock after selling 2,197 shares during the quarter. Patriot Investment Management Group Inc.’s holdings in Pfizer were worth $543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of PFE. Marshall Wace LLP increased its position in Pfizer by 279.3% during the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after acquiring an additional 8,378,173 shares during the last quarter. Swedbank AB bought a new position in shares of Pfizer in the 1st quarter worth approximately $172,902,000. Pzena Investment Management LLC lifted its stake in shares of Pfizer by 181.6% in the 1st quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock worth $212,855,000 after purchasing an additional 4,947,000 shares during the period. Van ECK Associates Corp grew its position in Pfizer by 21.8% during the first quarter. Van ECK Associates Corp now owns 15,813,328 shares of the biopharmaceutical company’s stock valued at $438,820,000 after buying an additional 2,829,178 shares during the period. Finally, 1832 Asset Management L.P. increased its holdings in Pfizer by 24,961.6% during the second quarter. 1832 Asset Management L.P. now owns 2,497,886 shares of the biopharmaceutical company’s stock valued at $69,891,000 after buying an additional 2,487,919 shares during the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PFE has been the subject of several analyst reports. Wells Fargo & Company upped their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group lifted their price objective on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Thursday, October 3rd. Finally, Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pfizer currently has an average rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Stock Down 0.6 %

NYSE PFE opened at $29.16 on Monday. The stock has a 50 day moving average price of $29.04 and a 200-day moving average price of $28.39. Pfizer Inc. has a one year low of $25.20 and a one year high of $33.92. The company has a market capitalization of $165.24 billion, a P/E ratio of -486.00, a P/E/G ratio of 1.30 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $0.67 EPS. As a group, equities analysts predict that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.76%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s payout ratio is -2,800.00%.

Pfizer Company 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.