J.W. Cole Advisors Inc. Sells 46,757 Shares of Pfizer Inc. (NYSE:PFE)

J.W. Cole Advisors Inc. reduced its stake in Pfizer Inc. (NYSE:PFE) by 32.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,848 shares of the biopharmaceutical company’s stock after selling 46,757 shares during the period. J.W. Cole Advisors Inc.’s holdings in Pfizer were worth $2,710,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PFE. Wellington Management Group LLP grew its stake in Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after purchasing an additional 11,099,024 shares in the last quarter. Norges Bank purchased a new position in shares of Pfizer during the fourth quarter valued at $2,129,927,000. Van ECK Associates Corp increased its stake 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 valued at $450,593,000 after buying an additional 290,760 shares during the period. Federated Hermes Inc. raised its holdings in shares of Pfizer by 3.3% in the second 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 in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Pfizer by 2.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock valued at $287,077,000 after purchasing an additional 238,850 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PFE has been the subject of several recent research reports. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Monday, September 9th. UBS Group boosted their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Barclays raised their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $28.00 to $34.00 in a 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Trading Up 0.4 %

NYSE:PFE opened at $29.27 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The firm has a fifty day simple moving average of $29.21 and a 200-day simple moving average of $28.12. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $34.42. The company has a market capitalization of $165.86 billion, a P/E ratio of -487.75, a PEG ratio of 1.04 and a beta of 0.68.

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 analysts’ expectations of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.67 EPS. On average, equities research analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.74%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s dividend 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.