Parcion Private Wealth LLC Sells 1,858 Shares of Pfizer Inc. (NYSE:PFE)

Parcion Private Wealth LLC trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 9.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,545 shares of the biopharmaceutical company’s stock after selling 1,858 shares during the quarter. Parcion Private Wealth LLC’s holdings in Pfizer were worth $491,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its holdings in Pfizer by 4.9% during 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. Norges Bank bought a new stake in Pfizer during the 4th quarter worth approximately $2,129,927,000. Massachusetts Financial Services Co. MA boosted its stake in shares of 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 purchasing an additional 8,298,920 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Pfizer by 1.8% in the 2nd quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock valued at $450,593,000 after purchasing an additional 290,760 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of Pfizer by 0.9% in the 1st quarter. California State Teachers Retirement System now owns 9,250,303 shares of the biopharmaceutical company’s stock valued at $256,696,000 after purchasing an additional 83,556 shares during the last quarter. 68.36% of the stock is owned by institutional investors.

Pfizer Stock Performance

PFE traded up $0.05 during midday trading on Friday, reaching $28.56. The company had a trading volume of 31,214,484 shares, compared to its average volume of 38,328,773. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The stock has a market cap of $161.84 billion, a PE ratio of -476.00, a P/E/G ratio of 1.02 and a beta of 0.68. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $34.64. The business has a 50-day moving average price of $29.06 and a two-hundred day moving average price of $28.05.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The firm 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 company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 earnings per share. On average, sell-side analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.88%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s payout ratio is currently -2,800.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PFE shares. UBS Group upped their price objective on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price target for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Monday, August 19th. Finally, StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Eight 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Company 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.