Pfizer Inc. (NYSE:PFE) Stock Position Lowered by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. lowered its stake in Pfizer Inc. (NYSE:PFE) by 6.0% during the third quarter, HoldingsChannel reports. The firm owned 25,797 shares of the biopharmaceutical company’s stock after selling 1,654 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Pfizer were worth $747,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Marshall Wace LLP raised its position in shares of Pfizer by 279.3% in the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after purchasing an additional 8,378,173 shares during the period. Swedbank AB bought a new position in Pfizer in the 1st quarter worth approximately $172,902,000. International Assets Investment Management LLC acquired a new stake in shares of Pfizer during the 3rd quarter worth approximately $146,481,000. Pzena Investment Management LLC raised its position in shares of Pfizer by 181.6% in the 1st quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock valued at $212,855,000 after acquiring an additional 4,947,000 shares during the period. Finally, 1832 Asset Management L.P. lifted its holdings in shares of Pfizer by 24,961.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,497,886 shares of the biopharmaceutical company’s stock valued at $69,891,000 after purchasing an additional 2,487,919 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

PFE has been the topic of several recent research reports. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. Wells Fargo & Company lifted their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Citigroup initiated coverage on shares of Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective for the company. Finally, Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and raised 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, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and an average target price of $33.58.

Pfizer Trading Up 0.2 %

PFE opened at $28.52 on Thursday. The company has a market cap of $161.61 billion, a P/E ratio of 38.54, a price-to-earnings-growth ratio of 0.99 and a beta of 0.67. The company has a fifty day moving average price of $29.06 and a two-hundred day moving average price of $28.56. 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 Inc. has a 1-year low of $25.20 and a 1-year high of $31.54.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same quarter last year, the firm posted ($0.17) EPS. Pfizer’s revenue was up 31.2% compared to the same quarter last year. Analysts predict that Pfizer Inc. will post 2.67 EPS for the current fiscal year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s payout ratio is currently 227.03%.

About Pfizer

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.