Ballast Inc. trimmed its stake in shares of Pfizer Inc. (NYSE:PFE – Get Rating) by 8.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,745 shares of the biopharmaceutical company’s stock after selling 1,839 shares during the period. Ballast Inc.’s holdings in Pfizer were worth $1,087,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Ullmann Wealth Partners Group LLC increased its holdings in Pfizer by 6.2% in the 1st quarter. Ullmann Wealth Partners Group LLC now owns 5,759 shares of the biopharmaceutical company’s stock valued at $298,000 after buying an additional 335 shares during the period. Red Door Wealth Management LLC increased its stake in shares of Pfizer by 8.6% in the 1st quarter. Red Door Wealth Management LLC now owns 109,620 shares of the biopharmaceutical company’s stock valued at $5,675,000 after acquiring an additional 8,694 shares in the last quarter. Capital City Trust Co. FL increased its stake in Pfizer by 49.9% during the 1st quarter. Capital City Trust Co. FL now owns 8,464 shares of the biopharmaceutical company’s stock valued at $438,000 after purchasing an additional 2,816 shares in the last quarter. Colonial River Wealth Management LLC increased its stake in Pfizer by 52.3% during the 1st quarter. Colonial River Wealth Management LLC now owns 20,988 shares of the biopharmaceutical company’s stock valued at $1,087,000 after purchasing an additional 7,206 shares in the last quarter. Finally, Annex Advisory Services LLC grew its stake in shares of Pfizer by 23.6% in the 1st quarter. Annex Advisory Services LLC now owns 10,279 shares of the biopharmaceutical company’s stock worth $532,000 after acquiring an additional 1,966 shares in the last quarter. 67.90% of the stock is owned by institutional investors.
Analyst Ratings Changes
PFE has been the topic of several recent research reports. UBS Group set a $59.00 price objective on shares of Pfizer in a report on Thursday, September 1st. Barclays set a $50.00 price target on Pfizer in a research note on Thursday, September 1st. Morgan Stanley reduced their price target on Pfizer from $52.00 to $49.00 and set an “equal weight” rating for the company in a report on Friday, July 8th. Berenberg Bank set a $44.00 price objective on Pfizer in a report on Wednesday, September 14th. Finally, The Goldman Sachs Group set a $50.00 target price on Pfizer in a research report on Thursday, September 1st. Nine investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.
Pfizer Stock Performance
Pfizer (NYSE:PFE – Get Rating) last released its earnings results on Thursday, July 28th. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.09. Pfizer had a return on equity of 43.18% and a net margin of 28.92%. The company had revenue of $27.74 billion for the quarter, compared to analysts’ expectations of $26.20 billion. During the same quarter in the previous year, the firm posted $1.07 EPS. The firm’s quarterly revenue was up 46.8% on a year-over-year basis. As a group, equities research analysts forecast that Pfizer Inc. will post 6.54 EPS for the current year.
Pfizer Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 5th. Shareholders of record on Friday, November 4th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.59%. Pfizer’s dividend payout ratio is presently 31.31%.
Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and women's health under the Premarin family and Eliquis brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines, and oral COVID-19 treatment under the Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga, and Paxlovid brands.
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