Pfizer Inc. (NYSE:PFE) Stock Position Decreased by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. cut its stake in shares of Pfizer Inc. (NYSE:PFE) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,895,577 shares of the biopharmaceutical company’s stock after selling 210,435 shares during the quarter. Pfizer accounts for 1.9% of Diamond Hill Capital Management Inc.’s portfolio, making the stock its 15th largest holding. Diamond Hill Capital Management Inc. owned 0.28% of Pfizer worth $444,758,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of PFE. Gilbert & Cook Inc. boosted its position in shares of Pfizer by 3.8% in the fourth quarter. Gilbert & Cook Inc. now owns 25,651 shares of the biopharmaceutical company’s stock worth $738,000 after buying an additional 945 shares during the period. Gryphon Financial Partners LLC boosted its position in shares of Pfizer by 43.7% in the fourth quarter. Gryphon Financial Partners LLC now owns 26,942 shares of the biopharmaceutical company’s stock worth $861,000 after buying an additional 8,194 shares during the period. Fiera Capital Corp acquired a new stake in shares of Pfizer in the fourth quarter worth $718,000. First Heartland Consultants Inc. boosted its position in shares of Pfizer by 43.3% in the fourth quarter. First Heartland Consultants Inc. now owns 13,013 shares of the biopharmaceutical company’s stock worth $375,000 after buying an additional 3,933 shares during the period. Finally, Financial Advocates Investment Management boosted its position in shares of Pfizer by 3.2% in the fourth quarter. Financial Advocates Investment Management now owns 43,856 shares of the biopharmaceutical company’s stock worth $1,263,000 after buying an additional 1,359 shares during the period. 68.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PFE. Wells Fargo & Company raised their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Monday, September 9th. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. UBS Group increased their price objective on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating 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 issued a strong buy rating to the stock. According to MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Price Performance

NYSE PFE opened at $29.27 on Friday. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $34.42. The stock’s 50-day moving average is $29.21 and its two-hundred day moving average is $28.12. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The firm has a market cap of $165.86 billion, a P/E ratio of -487.75, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.14. The company had revenue of $13.28 billion for the quarter, compared to the consensus estimate 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 period last year, the business posted $0.67 earnings per share. On average, analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.74%. The ex-dividend date was Friday, July 26th. Pfizer’s dividend payout ratio is currently -2,799.53%.

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.