Trueblood Wealth Management LLC Sells 709 Shares of Pfizer Inc. (NYSE:PFE)

Trueblood Wealth Management LLC reduced its position in shares of Pfizer Inc. (NYSE:PFE) by 7.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,159 shares of the biopharmaceutical company’s stock after selling 709 shares during the period. Trueblood Wealth Management LLC’s holdings in Pfizer were worth $265,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its stake in shares of Pfizer by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after purchasing an additional 2,241,609 shares during the period. Van ECK Associates Corp increased its position in Pfizer by 1.8% in the 2nd quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after buying an additional 290,760 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Pfizer by 3.3% during the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after buying an additional 470,003 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Pfizer by 2.4% in the second quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock worth $287,077,000 after acquiring an additional 238,850 shares during the last quarter. Finally, Thornburg Investment Management Inc. raised its stake in Pfizer by 10.3% during the 2nd quarter. Thornburg Investment Management Inc. now owns 9,803,509 shares of the biopharmaceutical company’s stock valued at $274,302,000 after purchasing an additional 912,156 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PFE has been the topic of several research reports. Citigroup began coverage on shares of Pfizer in a report on Friday. They set a “neutral” rating and a $30.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Wednesday. Sanford C. Bernstein began coverage on Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective on the stock. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and upped their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Finally, Barclays lifted their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.58.

Pfizer Price Performance

Shares of Pfizer stock opened at $28.46 on Friday. The stock has a market capitalization of $161.27 billion, a price-to-earnings ratio of -61.87, a P/E/G ratio of 1.01 and a beta of 0.67. The firm’s 50-day moving average price is $29.07 and its two-hundred day moving average price is $28.49. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $31.54.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The firm had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $0.67 EPS. On average, equities analysts predict 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. Shareholders 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 yield of 5.90%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio is currently -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.