Optas LLC Sells 759 Shares of Pfizer Inc. (NYSE:PFE)

Optas LLC lessened its position in Pfizer Inc. (NYSE:PFE) by 7.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,285 shares of the biopharmaceutical company’s stock after selling 759 shares during the period. Optas LLC’s holdings in Pfizer were worth $260,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new stake in Pfizer in the 4th quarter worth about $2,601,000. GAMMA Investing LLC purchased a new position in shares of Pfizer during the fourth quarter valued at approximately $342,000. Capital Advisors Ltd. LLC lifted its position in Pfizer by 7.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 14,836 shares of the biopharmaceutical company’s stock valued at $427,000 after purchasing an additional 978 shares during the period. Syon Capital LLC boosted its holdings in Pfizer by 111.4% in the fourth quarter. Syon Capital LLC now owns 64,444 shares of the biopharmaceutical company’s stock worth $1,855,000 after purchasing an additional 33,961 shares during the last quarter. Finally, Van Cleef Asset Management Inc grew its position in Pfizer by 6.8% in the 4th quarter. Van Cleef Asset Management Inc now owns 88,258 shares of the biopharmaceutical company’s stock worth $2,541,000 after purchasing an additional 5,613 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of PFE stock traded up $0.12 during trading hours on Friday, hitting $28.90. 21,885,329 shares of the company’s stock were exchanged, compared to its average volume of 39,008,852. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The firm has a 50 day moving average of $28.85 and a two-hundred day moving average of $27.96. The firm has a market cap of $163.76 billion, a P/E ratio of -481.67, a P/E/G ratio of 0.98 and a beta of 0.69. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $36.94.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter in the previous year, the company earned $0.67 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. Sell-side analysts forecast that Pfizer Inc. will post 2.68 EPS for the current year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 5.81%. Pfizer’s payout ratio is currently -2,800.00%.

Analyst Upgrades and Downgrades

PFE has been the topic of a number of research reports. 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 Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Monday, August 19th. Morgan Stanley increased their price target on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company boosted their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Eight equities research 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.com, the stock presently has an average 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.