Oppenheimer & Co. Inc. Cuts Stock Position in Pfizer Inc. (NYSE:PFE)

Oppenheimer & Co. Inc. lowered its holdings in Pfizer Inc. (NYSE:PFE) by 0.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 604,862 shares of the biopharmaceutical company’s stock after selling 2,490 shares during the period. Oppenheimer & Co. Inc.’s holdings in Pfizer were worth $16,924,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Pfizer during the fourth quarter worth $2,129,927,000. Wellington Management Group LLP increased its holdings in Pfizer by 4.9% during the 4th 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 during the period. Swedbank AB purchased a new stake in Pfizer during the 1st quarter worth about $172,902,000. Pzena Investment Management LLC raised its position in 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 purchasing an additional 4,947,000 shares in the last quarter. Finally, Ruffer LLP boosted its stake in shares of Pfizer by 248.7% in the 4th quarter. Ruffer LLP now owns 5,796,012 shares of the biopharmaceutical company’s stock valued at $166,837,000 after buying an additional 4,133,786 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Trading Down 1.7 %

NYSE:PFE opened at $29.16 on Friday. The company has a market capitalization of $165.24 billion, a PE ratio of -485.92, a P/E/G ratio of 1.04 and a beta of 0.68. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $34.62. The stock’s 50 day moving average price is $29.19 and its 200 day moving average price is $28.10. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $12.96 billion. During the same period last year, the firm posted $0.67 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, research analysts anticipate that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.76%. Pfizer’s payout ratio is -2,799.53%.

Analyst Ratings Changes

Several brokerages recently weighed in on PFE. Barclays raised their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Monday. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

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.