Amalgamated Bank Sells 27,091 Shares of Pfizer Inc. (NYSE:PFE)

Amalgamated Bank trimmed its position in Pfizer Inc. (NYSE:PFE) by 2.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,144,237 shares of the biopharmaceutical company’s stock after selling 27,091 shares during the quarter. Amalgamated Bank’s holdings in Pfizer were worth $32,016,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Olistico Wealth LLC acquired a new stake in Pfizer in the second quarter worth about $25,000. MFA Wealth Advisors LLC acquired a new position in shares of Pfizer during the 2nd quarter worth about $29,000. Creekmur Asset Management LLC acquired a new position in shares of Pfizer during the 4th quarter worth about $32,000. Trivant Custom Portfolio Group LLC grew its position in shares of Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 600 shares during the period. Finally, Financial Connections Group Inc. bought a new position in shares of Pfizer during the 2nd quarter valued at about $34,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Stock Down 0.8 %

PFE stock opened at $29.83 on Wednesday. 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 capitalization of $169.04 billion, a PE ratio of -497.08, a PEG ratio of 1.02 and a beta of 0.68. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $34.12. The business’s 50 day simple moving average is $29.30 and its 200 day simple moving average is $28.18.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.67 EPS. As a group, research analysts anticipate that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.63%. The ex-dividend date was Friday, July 26th. Pfizer’s dividend payout ratio is -2,799.53%.

Wall Street Analysts Forecast Growth

PFE has been the topic of several recent analyst reports. UBS Group lifted their price objective on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Monday. Barclays boosted their target price on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Finally, Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

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.