Royal London Asset Management Ltd. Has $65.18 Million Stake in Pfizer Inc. (NYSE:PFE)

Royal London Asset Management Ltd. lowered its stake in Pfizer Inc. (NYSE:PFE) by 0.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,329,601 shares of the biopharmaceutical company’s stock after selling 18,878 shares during the period. Royal London Asset Management Ltd.’s holdings in Pfizer were worth $65,182,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Olistico Wealth LLC bought a new stake in Pfizer during the second quarter worth approximately $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Pfizer during the 2nd quarter worth $29,000. Creekmur Asset Management LLC acquired a new position in Pfizer in the 4th quarter valued at $32,000. Trivant Custom Portfolio Group LLC raised its holdings in Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 600 shares during the period. Finally, Financial Connections Group Inc. acquired a new position in Pfizer during the 2nd quarter worth $34,000. Institutional investors own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

PFE has been the topic of several research analyst reports. Barclays raised their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. UBS Group raised their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Eight research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Stock Performance

NYSE PFE opened at $29.40 on Tuesday. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $34.62. 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 stock has a market cap of $166.60 billion, a P/E ratio of -489.92, a PEG ratio of 1.00 and a beta of 0.68. The company’s 50-day simple moving average is $29.08 and its 200 day simple moving average is $28.07.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. The company had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.67 EPS. As a group, research analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were issued 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 dividend yield of 5.71%. Pfizer’s payout ratio is presently -2,799.53%.

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.