Wealth Alliance Decreases Stake in Pfizer Inc. (NYSE:PFE)

Wealth Alliance reduced its position in Pfizer Inc. (NYSE:PFE) by 4.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 49,760 shares of the biopharmaceutical company’s stock after selling 2,478 shares during the period. Wealth Alliance’s holdings in Pfizer were worth $1,392,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in Pfizer by 4.9% in the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after buying an additional 11,099,024 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Pfizer by 3.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after purchasing an additional 2,241,609 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Pfizer by 1.8% during the second quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after purchasing an additional 290,760 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Pfizer by 3.3% during the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after purchasing an additional 470,003 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Pfizer by 2.4% during the second quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock worth $287,077,000 after purchasing an additional 238,850 shares during the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Price Performance

Shares of NYSE:PFE opened at $29.83 on Wednesday. The firm’s 50 day moving average is $29.30 and its two-hundred day moving average is $28.18. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $34.12. The firm has a market capitalization of $169.04 billion, a P/E ratio of -497.08, a PEG ratio of 1.02 and a beta of 0.68. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating the consensus estimate 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 company had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same quarter last year, the business earned $0.67 earnings per share. Pfizer’s revenue was up 2.1% compared to the same quarter last year. Analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were paid a dividend of $0.42 per share. The ex-dividend date was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.63%. Pfizer’s dividend payout ratio is presently -2,799.53%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. UBS Group increased their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Wells Fargo & Company increased their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” 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 price target for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Monday. Eight 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’s stock. According to data from MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and an average target price of $34.54.

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.