World Asset Management Inc Cuts Stock Position in Pfizer Inc. (NYSE:PFE)

World Asset Management Inc lessened its stake in Pfizer Inc. (NYSE:PFE) by 3.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 103,498 shares of the biopharmaceutical company’s stock after selling 4,071 shares during the quarter. World Asset Management Inc’s holdings in Pfizer were worth $4,053,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Isthmus Partners LLC purchased a new stake in Pfizer in the 2nd quarter worth $163,000. Blume Capital Management Inc. increased its holdings in Pfizer by 41.8% in the 2nd quarter. Blume Capital Management Inc. now owns 122,512 shares of the biopharmaceutical company’s stock worth $4,798,000 after acquiring an additional 36,098 shares in the last quarter. Marcum Wealth LLC increased its holdings in Pfizer by 0.6% in the 2nd quarter. Marcum Wealth LLC now owns 44,245 shares of the biopharmaceutical company’s stock worth $1,733,000 after acquiring an additional 261 shares in the last quarter. Wakefield Asset Management LLLP purchased a new stake in shares of Pfizer during the second quarter worth $1,458,000. Finally, National Asset Management Inc. grew its holdings in shares of Pfizer by 38.7% during the second quarter. National Asset Management Inc. now owns 334,418 shares of the biopharmaceutical company’s stock worth $13,075,000 after buying an additional 93,382 shares in the last quarter. 64.93% of the stock is owned by institutional investors.

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Pfizer from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday. Truist assumed coverage on shares of Pfizer in a report on Tuesday, July 27th. They set a “buy” rating and a $43.00 target price for the company. The Goldman Sachs Group set a $48.00 price target on shares of Pfizer in a research report on Thursday, July 29th. Berenberg Bank reissued a “neutral” rating and set a $43.00 price target on shares of Pfizer in a research report on Tuesday, June 15th. Finally, Mizuho boosted their price target on shares of Pfizer from $42.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, July 30th. Eleven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $42.77.

In other news, SVP Jennifer B. Damico sold 2,500 shares of the firm’s stock in a transaction on Friday, July 30th. The stock was sold at an average price of $42.86, for a total value of $107,150.00. Following the completion of the transaction, the senior vice president now owns 11,430 shares in the company, valued at $489,889.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Jennifer B. Damico sold 1,661 shares of Pfizer stock in a transaction dated Friday, August 13th. The stock was sold at an average price of $48.30, for a total value of $80,226.30. The disclosure for this sale can be found here. 0.05% of the stock is owned by company insiders.

Shares of PFE traded up $0.18 during mid-day trading on Wednesday, reaching $44.89. 487,692 shares of the company’s stock were exchanged, compared to its average volume of 30,836,189. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.37 and a quick ratio of 1.12. The business’s fifty day simple moving average is $44.74 and its 200-day simple moving average is $40.35. Pfizer Inc. has a 52-week low of $33.36 and a 52-week high of $51.86. The stock has a market capitalization of $251.68 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 1.58 and a beta of 0.74.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Wednesday, July 28th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.10. Pfizer had a return on equity of 26.49% and a net margin of 23.06%. The firm had revenue of $18.98 billion during the quarter, compared to the consensus estimate of $17.54 billion. During the same period last year, the company earned $0.78 earnings per share. Equities research analysts predict that Pfizer Inc. will post 4.12 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 7th. Investors of record on Friday, July 30th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Thursday, July 29th. Pfizer’s dividend payout ratio is presently 70.27%.

About Pfizer

Pfizer Inc is a research-based global biopharmaceutical company. It engages in the discovery, development, manufacture, marketing, sales and distribution of biopharmaceutical products worldwide. The firm work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases.

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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