Ballentine Partners LLC Has $3.01 Million Stake in Pfizer Inc. (NYSE:PFE)

Ballentine Partners LLC reduced its stake in shares of Pfizer Inc. (NYSE:PFE) by 6.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 107,689 shares of the biopharmaceutical company’s stock after selling 7,275 shares during the quarter. Ballentine Partners LLC’s holdings in Pfizer were worth $3,013,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MRA Advisory Group grew its holdings in shares of Pfizer by 21.7% during the 2nd quarter. MRA Advisory Group now owns 22,280 shares of the biopharmaceutical company’s stock valued at $623,000 after acquiring an additional 3,970 shares in the last quarter. Koss Olinger Consulting LLC acquired a new stake in Pfizer during the second quarter valued at $2,148,000. Caprock Group LLC grew its stake in Pfizer by 73.9% in the second quarter. Caprock Group LLC now owns 171,359 shares of the biopharmaceutical company’s stock valued at $4,795,000 after purchasing an additional 72,818 shares in the last quarter. Lynch & Associates IN increased its position in Pfizer by 7.9% in the 2nd quarter. Lynch & Associates IN now owns 97,182 shares of the biopharmaceutical company’s stock worth $2,719,000 after purchasing an additional 7,151 shares during the last quarter. Finally, Kerusso Capital Management LLC purchased a new stake in shares of Pfizer during the 2nd quarter worth about $2,919,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Pfizer Stock Performance

Shares of NYSE PFE traded up $0.05 during trading hours on Friday, hitting $28.56. 31,214,484 shares of the company’s stock were exchanged, compared to its average volume of 38,328,773. The company’s 50-day moving average price is $29.06 and its 200-day moving average price is $28.05. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $34.64. The stock has a market capitalization of $161.84 billion, a price-to-earnings ratio of -476.00, a PEG ratio of 1.02 and a beta of 0.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60.

Pfizer (NYSE:PFE) last issued its quarterly 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. The company had revenue of $13.28 billion during 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 quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 earnings per share. On average, sell-side analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were given a $0.42 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 5.88%. Pfizer’s dividend payout ratio is -2,800.00%.

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.