Pfizer Inc. (NYSE:PFE) Shares Sold by Eagle Ridge Investment Management

Eagle Ridge Investment Management lowered its position in shares of Pfizer Inc. (NYSE:PFE) by 4.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,365 shares of the biopharmaceutical company’s stock after selling 617 shares during the quarter. Eagle Ridge Investment Management’s holdings in Pfizer were worth $358,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of PFE. Massachusetts Financial Services Co. MA grew its position in shares of Pfizer by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after purchasing an additional 2,241,609 shares during the period. Van ECK Associates Corp grew its holdings in Pfizer by 1.8% in the 2nd quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock valued at $450,593,000 after buying an additional 290,760 shares during the period. Federated Hermes Inc. increased its stake in shares of Pfizer by 3.3% during the 2nd quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after acquiring an additional 470,003 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Pfizer by 2.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock worth $287,077,000 after acquiring an additional 238,850 shares during the period. Finally, Thornburg Investment Management Inc. boosted its position in shares of Pfizer by 10.3% in the second quarter. Thornburg Investment Management Inc. now owns 9,803,509 shares of the biopharmaceutical company’s stock worth $274,302,000 after acquiring an additional 912,156 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Performance

Pfizer stock opened at $28.65 on Friday. 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 Inc. has a one year low of $25.20 and a one year high of $31.54. The stock’s 50 day moving average price is $29.07 and its 200 day moving average price is $28.48. The firm has a market capitalization of $162.35 billion, a PE ratio of -62.28, a price-to-earnings-growth ratio of 1.01 and a beta of 0.67.

Pfizer (NYSE:PFE) last announced its earnings results 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. 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 the consensus estimate of $12.96 billion. During the same period in the prior year, the firm earned $0.67 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts expect that Pfizer Inc. will post 2.67 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 5.86%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is -365.21%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Sanford C. Bernstein assumed coverage on Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price on the stock. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $33.91.

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.