QRG Capital Management Inc. Lowers Position in Pfizer Inc. (NYSE:PFE)

QRG Capital Management Inc. decreased its stake in shares of Pfizer Inc. (NYSE:PFE) by 10.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 465,176 shares of the biopharmaceutical company’s stock after selling 51,587 shares during the quarter. QRG Capital Management Inc.’s holdings in Pfizer were worth $13,016,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Ironvine Capital Partners LLC boosted its position in Pfizer by 2.1% during the 1st quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock worth $470,000 after acquiring an additional 353 shares during the period. Advisor OS LLC raised its stake in shares of Pfizer by 1.0% during the 4th quarter. Advisor OS LLC now owns 35,202 shares of the biopharmaceutical company’s stock worth $1,013,000 after purchasing an additional 365 shares in the last quarter. Safeguard Investment Advisory Group LLC raised its stake in shares of Pfizer by 3.9% during the 4th quarter. Safeguard Investment Advisory Group LLC now owns 9,987 shares of the biopharmaceutical company’s stock worth $288,000 after purchasing an additional 371 shares in the last quarter. Lantz Financial LLC raised its stake in shares of Pfizer by 1.3% during the 1st quarter. Lantz Financial LLC now owns 30,582 shares of the biopharmaceutical company’s stock worth $849,000 after purchasing an additional 381 shares in the last quarter. Finally, Wellington Shields Capital Management LLC raised its stake in shares of Pfizer by 1.3% during the 1st quarter. Wellington Shields Capital Management LLC now owns 30,750 shares of the biopharmaceutical company’s stock worth $853,000 after purchasing an additional 385 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

NYSE PFE traded down $0.21 during trading on Friday, hitting $28.55. The company’s stock had a trading volume of 25,795,602 shares, compared to its average volume of 39,340,824. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The firm has a 50 day moving average price of $28.80 and a 200 day moving average price of $27.86. The firm has a market cap of $161.78 billion, a P/E ratio of -475.75, a price-to-earnings-growth ratio of 1.02 and a beta of 0.69. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $37.19.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 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 company had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. During the same period in the previous year, the business posted $0.67 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts forecast that Pfizer Inc. will post 2.68 earnings per share for the current fiscal year.

Pfizer Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. UBS Group raised their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Barclays raised their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday. BMO Capital Markets reissued an “outperform” rating and issued a $36.00 price objective (up from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Finally, Morgan Stanley raised their price objective on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Pfizer presently has an average 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.