Torray Investment Partners LLC reduced its stake in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 776,455 shares of the biopharmaceutical company’s stock after selling 27,116 shares during the period. Pfizer makes up approximately 3.2% of Torray Investment Partners LLC’s investment portfolio, making the stock its 9th biggest holding. Torray Investment Partners LLC’s holdings in Pfizer were worth $21,803,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in shares of Pfizer by 1,282.4% in the fourth quarter. Brighton Jones LLC now owns 666,318 shares of the biopharmaceutical company’s stock worth $17,677,000 after acquiring an additional 618,117 shares during the period. Revolve Wealth Partners LLC boosted its holdings in Pfizer by 12.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 18,766 shares of the biopharmaceutical company’s stock valued at $498,000 after purchasing an additional 2,087 shares during the last quarter. United Bank grew its position in Pfizer by 12.4% during the 2nd quarter. United Bank now owns 58,087 shares of the biopharmaceutical company’s stock worth $1,408,000 after purchasing an additional 6,415 shares during the period. Sei Investments Co. grew its position in Pfizer by 31.5% during the 2nd quarter. Sei Investments Co. now owns 2,635,691 shares of the biopharmaceutical company’s stock worth $63,889,000 after purchasing an additional 631,523 shares during the period. Finally, HUB Investment Partners LLC raised its stake in shares of Pfizer by 45.3% during the 2nd quarter. HUB Investment Partners LLC now owns 102,327 shares of the biopharmaceutical company’s stock valued at $2,480,000 after buying an additional 31,896 shares during the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.
Pfizer Price Performance
Shares of Pfizer stock traded down $0.04 on Friday, reaching $24.21. The company’s stock had a trading volume of 27,476,453 shares, compared to its average volume of 47,734,172. The company has a quick ratio of 0.94, a current ratio of 1.25 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $138.01 billion, a P/E ratio of 18.48 and a beta of 0.35. The stock has a 50-day moving average price of $25.37 and a 200-day moving average price of $26.18. Pfizer Inc. has a 52-week low of $23.11 and a 52-week high of $28.75.
Pfizer Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, July 24th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend is Friday, July 24th. Pfizer’s dividend payout ratio (DPR) is presently 131.30%.
Key Pfizer News
Here are the key news stories impacting Pfizer this week:
- Positive Sentiment: The U.S. FDA approved PADCEV plus Keytruda for muscle-invasive bladder cancer, expanding the label for a key Pfizer/Astellas regimen and potentially opening the door to more sales in oncology. Article: U.S. FDA Approves PADCEV® plus Keytruda® as Neoadjuvant and Adjuvant Treatment for Muscle-Invasive Bladder Cancer Regardless of Cisplatin Eligibility
- Positive Sentiment: Pfizer’s oncology story also got incremental attention from a completed lorlatinib lung cancer study and other clinical updates, which keep investors focused on the company’s pipeline rather than only its mature products. Article: Pfizer’s Lorlatinib Lung Cancer Study Wraps Up, Offering Fresh Signals for PFE Investors
- Neutral Sentiment: Bank of America lowered its price target on Pfizer to $26 from $27 while keeping a neutral rating, signaling limited upside but no major change in its overall stance. Article: Pfizer had its price target lowered by Bank of America Corporation from $27.00 to $26.00.
- Negative Sentiment: Several market commentary pieces highlighted concerns about Pfizer’s growth outlook and mixed second-quarter expectations, including skepticism about how quickly Seagen-related benefits will show up in results. Article: Pfizer Poised for Mixed Second Quarter, RBC Says
Analyst Ratings Changes
PFE has been the subject of several recent research reports. Wall Street Zen cut Pfizer from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Royal Bank Of Canada raised shares of Pfizer from an “underperform” rating to a “sector perform” rating and set a $25.00 target price for the company in a report on Tuesday, June 9th. Weiss Ratings upgraded shares of Pfizer from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. UBS Group restated a “neutral” rating and set a $27.00 price target on shares of Pfizer in a research report on Wednesday, May 27th. Finally, Morgan Stanley lifted their price objective on shares of Pfizer from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Pfizer currently has an average rating of “Hold” and an average price target of $28.56.
About Pfizer
Pfizer Inc (NYSE: PFE) is a multinational biopharmaceutical company headquartered in New York City. Founded in 1849 by Charles Pfizer and Charles Erhart, the company researches, develops, manufactures and commercializes a broad range of medicines and vaccines for human health. Its activities span discovery research, clinical development, regulatory affairs, manufacturing and global commercial distribution across multiple therapeutic areas.
Pfizer’s portfolio and pipeline cover oncology, immunology, cardiology, endocrinology, rare diseases, hospital acute care and anti-infectives, along with a substantial vaccine business.
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