CRA Financial Services LLC Sells 2,816 Shares of Pfizer Inc. (NYSE:PFE)

CRA Financial Services LLC trimmed its position in shares of Pfizer Inc. (NYSE:PFE) by 13.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,869 shares of the biopharmaceutical company’s stock after selling 2,816 shares during the quarter. CRA Financial Services LLC’s holdings in Pfizer were worth $692,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. grew its stake in Pfizer by 0.6% in the first quarter. BlackRock Inc. now owns 445,384,893 shares of the biopharmaceutical company’s stock valued at $18,171,704,000 after acquiring an additional 2,516,132 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Pfizer by 9.8% during the 1st quarter. Wellington Management Group LLP now owns 218,931,933 shares of the biopharmaceutical company’s stock valued at $8,932,423,000 after purchasing an additional 19,602,359 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of Pfizer by 89,592.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 161,143,638 shares of the biopharmaceutical company’s stock valued at $8,257,000,000 after purchasing an additional 160,963,976 shares during the period. Geode Capital Management LLC increased its stake in Pfizer by 0.5% during the 1st quarter. Geode Capital Management LLC now owns 109,852,779 shares of the biopharmaceutical company’s stock worth $4,472,433,000 after purchasing an additional 577,201 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Pfizer by 14.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 83,901,181 shares of the biopharmaceutical company’s stock worth $3,408,836,000 after buying an additional 10,560,702 shares during the period. Institutional investors and hedge funds own 68.05% of the company’s stock.

Pfizer Stock Performance

NYSE PFE opened at $33.64 on Tuesday. The firm has a market capitalization of $189.93 billion, a P/E ratio of 8.95, a price-to-earnings-growth ratio of 1.14 and a beta of 0.59. The company has a current ratio of 2.12, a quick ratio of 1.82 and a debt-to-equity ratio of 0.62. The firm’s fifty day moving average price is $35.80 and its two-hundred day moving average price is $37.96. Pfizer Inc. has a 1 year low of $33.44 and a 1 year high of $54.93.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Pfizer had a net margin of 27.55% and a return on equity of 28.36%. The company had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $13.36 billion. During the same period in the prior year, the firm earned $2.04 EPS. Pfizer’s quarterly revenue was down 54.1% compared to the same quarter last year. As a group, research analysts anticipate that Pfizer Inc. will post 3.33 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Friday, July 28th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $1.64 annualized dividend and a dividend yield of 4.88%. Pfizer’s dividend payout ratio is currently 43.62%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PFE. Barclays lowered their price objective on shares of Pfizer from $40.00 to $38.00 in a research report on Tuesday, July 11th. JPMorgan Chase & Co. lowered their target price on Pfizer from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Monday, July 17th. Credit Suisse Group downgraded Pfizer from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $47.00 to $40.00 in a research note on Thursday, June 29th. HSBC initiated coverage on Pfizer in a research report on Friday, July 14th. They set a “buy” rating and a $50.00 price objective for the company. Finally, Truist Financial reissued a “buy” rating and issued a $62.00 target price on shares of Pfizer in a research report on Wednesday, September 13th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.35.

Pfizer Profile

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, 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.