Dakota Wealth Management Reduces Stock Position in Pfizer Inc. (NYSE:PFE)

Dakota Wealth Management decreased its holdings in Pfizer Inc. (NYSE:PFE) by 5.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 306,507 shares of the biopharmaceutical company’s stock after selling 17,606 shares during the period. Dakota Wealth Management’s holdings in Pfizer were worth $8,870,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PFE. Marshall Wace LLP increased its stake in Pfizer by 279.3% in the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock worth $150,481,000 after buying an additional 8,378,173 shares during the period. Swedbank AB purchased a new position in shares of Pfizer during the first quarter worth approximately $172,902,000. International Assets Investment Management LLC bought a new stake in shares of Pfizer during the third quarter valued at approximately $146,481,000. Pzena Investment Management LLC boosted its holdings in shares of Pfizer by 181.6% in the first quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock valued at $212,855,000 after purchasing an additional 4,947,000 shares during the period. Finally, Van ECK Associates Corp grew its stake in Pfizer by 21.8% in the first quarter. Van ECK Associates Corp now owns 15,813,328 shares of the biopharmaceutical company’s stock worth $438,820,000 after purchasing an additional 2,829,178 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Sanford C. Bernstein initiated coverage on shares of Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price on the stock. Barclays boosted their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Finally, Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.91.

Pfizer Stock Down 0.7 %

Shares of PFE stock opened at $28.65 on Friday. The stock’s fifty day moving average price is $29.07 and its 200 day moving average price is $28.48. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $31.54. The company has a market cap of $162.35 billion, a price-to-earnings ratio of -62.28, a price-to-earnings-growth ratio of 1.01 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.14. The firm had revenue of $13.28 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.67 earnings per share. On average, research analysts expect that Pfizer Inc. will post 2.67 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.86%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently -365.21%.

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.