Neuberger Berman Group LLC lowered its stake in Pfizer Inc. (NYSE:PFE) by 8.7% during the second quarter, HoldingsChannel reports. The firm owned 7,309,579 shares of the biopharmaceutical company’s stock after selling 695,922 shares during the period. Neuberger Berman Group LLC’s holdings in Pfizer were worth $238,953,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PFE. WFA of San Diego LLC purchased a new position in Pfizer during the 2nd quarter valued at about $269,000. Handelsbanken Fonder AB acquired a new stake in shares of Pfizer during the 2nd quarter valued at about $45,508,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Pfizer by 16.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 91,533 shares of the biopharmaceutical company’s stock valued at $2,993,000 after buying an additional 13,140 shares during the last quarter. Asset Dedication LLC lifted its holdings in shares of Pfizer by 8.0% during the 2nd quarter. Asset Dedication LLC now owns 37,199 shares of the biopharmaceutical company’s stock valued at $1,220,000 after buying an additional 2,751 shares during the last quarter. Finally, Cypress Capital LLC acquired a new stake in shares of Pfizer during the 2nd quarter valued at about $998,000. 69.08% of the stock is currently owned by hedge funds and other institutional investors.

In other Pfizer news, Director Ronald E. Blaylock purchased 13,000 shares of the stock in a transaction on Thursday, August 6th. The stock was bought at an average cost of $38.55 per share, for a total transaction of $501,150.00. Following the completion of the acquisition, the director now directly owns 4,000 shares of the company’s stock, valued at $154,200. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.08% of the stock is owned by corporate insiders.

Several equities research analysts have recently issued reports on PFE shares. SVB Leerink lifted their price target on Pfizer from $39.00 to $42.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. Mizuho restated a “buy” rating and issued a $43.00 target price on shares of Pfizer in a report on Tuesday. ValuEngine lowered Pfizer from a “hold” rating to a “sell” rating in a report on Thursday, July 30th. TheStreet upgraded Pfizer from a “c+” rating to a “b” rating in a report on Monday, June 1st. Finally, Piper Sandler boosted their target price on Pfizer from $18.50 to $24.00 in a report on Friday, June 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. Pfizer presently has an average rating of “Hold” and an average target price of $39.61.

Shares of PFE traded down $0.02 during trading hours on Wednesday, hitting $36.94. 764,366 shares of the stock traded hands, compared to its average volume of 29,486,596. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.78. Pfizer Inc. has a 1-year low of $27.88 and a 1-year high of $40.97. The firm has a market capitalization of $205.38 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 2.91 and a beta of 0.67. The business has a fifty day moving average of $37.79 and a 200-day moving average of $35.69.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, July 28th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.14. Pfizer had a return on equity of 25.11% and a net margin of 28.80%. The business had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same quarter in the prior year, the firm posted $0.80 earnings per share. The firm’s revenue for the quarter was down 11.0% compared to the same quarter last year. As a group, equities research analysts expect that Pfizer Inc. will post 2.89 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, July 31st were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $1.52 annualized dividend and a dividend yield of 4.11%. Pfizer’s dividend payout ratio (DPR) is currently 51.53%.

About Pfizer

Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It offers medicines and vaccines in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases under the Lyrica, Chantix/Champix, Eliquis, Ibrance, Sutent, Xalkori, Inlyta, Xtandi, Enbrel, Xeljanz, Eucrisa, BeneFix, Genotropin, and Refacto AF/Xyntha brands.

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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