NorthCrest Asset Manangement LLC Has $1.65 Million Stock Position in Pfizer Inc. (NYSE:PFE)

NorthCrest Asset Manangement LLC lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 0.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,853 shares of the biopharmaceutical company’s stock after selling 556 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Pfizer were worth $1,647,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP raised its holdings in shares of Pfizer by 4.9% in 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 acquiring an additional 11,099,024 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Pfizer by 8.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock worth $2,985,783,000 after acquiring an additional 8,473,686 shares during the last quarter. Norges Bank acquired a new stake in shares of Pfizer in the 4th quarter worth about $2,129,927,000. Massachusetts Financial Services Co. MA increased its stake in Pfizer by 13.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after buying an additional 8,298,920 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in Pfizer by 21.8% in the 1st quarter. Van ECK Associates Corp now owns 15,813,328 shares of the biopharmaceutical company’s stock valued at $438,820,000 after buying an additional 2,829,178 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on PFE. Morgan Stanley increased their price objective on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. UBS Group increased their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. BMO Capital Markets reissued an “outperform” rating and set a $36.00 target price (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Trading Down 0.2 %

NYSE:PFE traded down $0.07 during trading hours on Wednesday, reaching $28.78. The company’s stock had a trading volume of 9,797,248 shares, compared to its average volume of 39,481,129. The firm has a market capitalization of $163.08 billion, a price-to-earnings ratio of -480.75, a PEG ratio of 1.02 and a beta of 0.69. The firm has a 50-day simple moving average of $28.77 and a 200-day simple moving average of $27.88. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $37.19. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.78 and a current ratio of 0.86.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 EPS. Research analysts expect that Pfizer Inc. will post 2.68 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.84%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s payout ratio is presently -2,799.53%.

Pfizer 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.