Brandywine Global Investment Management LLC Cuts Stock Holdings in Pfizer Inc. (NYSE:PFE)

Key Points

• Brandywine Global Investment Management LLC decreased its stake in Pfizer Inc. by 6.2%, selling 75,456 shares and holding a total of approximately 1.13 million shares worth $28.73 million.
• Several hedge funds have recently increased their holdings in Pfizer, with Brighton Jones LLC boosting its shares by an extraordinary 1,282.4% during the 4th quarter, now owning 666,318 shares.
• Pfizer's recent quarterly earnings report revealed earnings per share of $0.78, exceeding expectations, and the company also announced a quarterly dividend of $0.43 with a yield of 6.8%.

Brandywine Global Investment Management LLC trimmed its position in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 6.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,133,679 shares of the biopharmaceutical company's stock after selling 75,456 shares during the quarter. Brandywine Global Investment Management LLC's holdings in Pfizer were worth $28,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of PFE. Brighton Jones LLC boosted its holdings in Pfizer by 1,282.4% during the 4th 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 last quarter. Revolve Wealth Partners LLC boosted its holdings in Pfizer by 12.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 18,766 shares of the biopharmaceutical company's stock worth $498,000 after acquiring an additional 2,087 shares during the last quarter. Adams Wealth Management boosted its holdings in Pfizer by 22.3% during the 4th quarter. Adams Wealth Management now owns 22,976 shares of the biopharmaceutical company's stock worth $610,000 after acquiring an additional 4,191 shares during the last quarter. Capital International Sarl boosted its holdings in Pfizer by 3.6% during the 4th quarter. Capital International Sarl now owns 356,477 shares of the biopharmaceutical company's stock worth $9,457,000 after acquiring an additional 12,495 shares during the last quarter. Finally, Capital International Ltd. CA boosted its holdings in shares of Pfizer by 3.5% in the 4th quarter. Capital International Ltd. CA now owns 253,273 shares of the biopharmaceutical company's stock worth $6,719,000 after buying an additional 8,509 shares during the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price target on shares of Pfizer from $25.00 to $27.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Wolfe Research boosted their price target on shares of Pfizer from $22.00 to $23.00 and gave the stock an "underperform" rating in a report on Wednesday, April 30th. Bank of America boosted their price target on shares of Pfizer from $27.00 to $28.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Jefferies Financial Group boosted their price target on shares of Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Finally, HSBC cut their price target on shares of Pfizer from $27.00 to $26.00 and set a "buy" rating on the stock in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Pfizer presently has an average rating of "Hold" and an average price target of $28.12.

Pfizer Price Performance

Shares of NYSE:PFE opened at $25.16 on Friday. The company has a 50 day moving average of $24.60 and a 200 day moving average of $24.45. The stock has a market cap of $143.05 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.89 and a beta of 0.52. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $30.43. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.58 by $0.20. The company had revenue of $14.65 billion during the quarter, compared to analysts' expectations of $13.43 billion. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. Pfizer's revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.60 earnings per share. As a group, sell-side analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date of this dividend is Friday, July 25th. Pfizer's dividend payout ratio (DPR) is currently 91.49%.

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.

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