Pfizer Inc. (NYSE:PFE) Position Reduced by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 14.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 876,391 shares of the biopharmaceutical company’s stock after selling 142,353 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Pfizer were worth $25,363,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. LGT Group Foundation raised its holdings in shares of Pfizer by 2.5% during the second quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock worth $20,786,000 after purchasing an additional 18,274 shares during the period. Creative Planning raised its holdings in shares of Pfizer by 17.1% during the third quarter. Creative Planning now owns 1,820,731 shares of the biopharmaceutical company’s stock worth $52,692,000 after purchasing an additional 266,167 shares during the period. ORG Partners LLC raised its holdings in shares of Pfizer by 1,729.9% during the second quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock worth $1,327,000 after purchasing an additional 44,458 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its holdings in shares of Pfizer by 10.3% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 256,460 shares of the biopharmaceutical company’s stock worth $7,422,000 after purchasing an additional 23,928 shares during the period. Finally, Everett Harris & Co. CA raised its holdings in shares of Pfizer by 21.7% during the third quarter. Everett Harris & Co. CA now owns 218,344 shares of the biopharmaceutical company’s stock worth $6,319,000 after purchasing an additional 38,870 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Stock Up 0.1 %

Pfizer stock opened at $28.86 on Thursday. The stock has a market cap of $163.54 billion, a price-to-earnings ratio of -481.00, a PEG ratio of 1.02 and a beta of 0.67. 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 company’s 50-day moving average price is $29.07 and its two-hundred day moving average price is $28.48. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $31.54.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same quarter last year, the firm posted $0.67 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts expect that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 5.82%. Pfizer’s dividend payout ratio (DPR) is -2,800.00%.

Analysts Set New Price Targets

PFE has been the topic of a number of research reports. Barclays increased their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock 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 report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Wednesday. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Finally, StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.91.

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.