Blodgett Wealth Advisors LLC Decreases Stock Holdings in Pfizer Inc. (NYSE:PFE)

by · The Markets Daily

Blodgett Wealth Advisors LLC lowered its holdings in Pfizer Inc. (NYSE:PFE – Free Report) by 6.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 13,461 shares of the biopharmaceutical company’s stock after selling 981 shares during the quarter. Blodgett Wealth Advisors LLC’s holdings in Pfizer were worth $390,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Marshall Wace LLP raised its holdings in Pfizer by 279.3% in the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock worth $150,481,000 after purchasing an additional 8,378,173 shares in the last quarter. Swedbank AB bought a new position in shares of Pfizer during the first quarter valued at approximately $172,902,000. Pzena Investment Management LLC lifted its holdings in shares of Pfizer by 181.6% during the first 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 during the last quarter. Van ECK Associates Corp grew its stake in shares of Pfizer by 21.8% in the 1st quarter. Van ECK Associates Corp now owns 15,813,328 shares of the biopharmaceutical company’s stock worth $438,820,000 after buying an additional 2,829,178 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its position in 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 buying an additional 2,487,919 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

PFE stock traded down $0.08 during trading on Tuesday, reaching $28.85. The stock had a trading volume of 20,814,395 shares, compared to its average volume of 36,960,008. The stock’s 50 day moving average is $29.07 and its two-hundred day moving average is $28.47. 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 market cap of $163.48 billion, a PE ratio of -479.33, a PEG ratio of 1.02 and a beta of 0.67. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $31.54.

Pfizer (NYSE:PFE – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The firm had revenue of $13.28 billion for 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 business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.67 EPS. As a group, equities analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 5.82%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s payout ratio is currently -2,800.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PFE shares. UBS Group increased their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Wells Fargo & Company increased their price target on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Thursday, October 3rd. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pfizer presently has an average rating of “Moderate Buy” and an average price target of $33.91.

Get Our Latest Stock Report on Pfizer

Pfizer Company Profile

(Free Report)

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.

Further Reading