Slocum Gordon & Co LLP Sells 2,955 Shares of Pfizer Inc. (NYSE:PFE)

Slocum Gordon & Co LLP lessened its holdings in Pfizer Inc. (NYSE:PFE) by 1.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 158,673 shares of the biopharmaceutical company’s stock after selling 2,955 shares during the quarter. Pfizer comprises 3.3% of Slocum Gordon & Co LLP’s investment portfolio, making the stock its 11th biggest position. Slocum Gordon & Co LLP’s holdings in Pfizer were worth $4,440,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Gilbert & Cook Inc. boosted its position in Pfizer by 3.8% during the 4th quarter. Gilbert & Cook Inc. now owns 25,651 shares of the biopharmaceutical company’s stock valued at $738,000 after buying an additional 945 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Pfizer by 3.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 29,864 shares of the biopharmaceutical company’s stock worth $860,000 after buying an additional 899 shares during the period. Gryphon Financial Partners LLC lifted its holdings in Pfizer by 43.7% in the 4th quarter. Gryphon Financial Partners LLC now owns 26,942 shares of the biopharmaceutical company’s stock worth $861,000 after buying an additional 8,194 shares during the period. E Fund Management Co. Ltd. grew its position in shares of Pfizer by 22.0% in the 4th quarter. E Fund Management Co. Ltd. now owns 13,922 shares of the biopharmaceutical company’s stock worth $401,000 after buying an additional 2,514 shares during the last quarter. Finally, Principal Securities Inc. purchased a new position in shares of Pfizer during the fourth quarter valued at approximately $2,393,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Price Performance

Shares of PFE opened at $28.75 on Friday. The company has a 50 day moving average price of $29.05 and a 200-day moving average price of $28.04. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $34.64. The stock has a market capitalization of $162.91 billion, a PE ratio of -475.09, a PEG ratio of 1.02 and a beta of 0.68. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping 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 firm had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter in the prior year, the company earned $0.67 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. Equities analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Barclays raised their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. UBS Group raised their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and a consensus price target of $34.54.

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.