Duff & Phelps Investment Management Co. Decreases Holdings in Pfizer Inc. (NYSE:PFE)

Duff & Phelps Investment Management Co. cut its stake in shares of Pfizer Inc. (NYSE:PFE) by 80.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,922 shares of the biopharmaceutical company’s stock after selling 52,188 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Pfizer were worth $362,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Forefront Analytics LLC grew its position in shares of Pfizer by 17.0% during the 2nd quarter. Forefront Analytics LLC now owns 15,049 shares of the biopharmaceutical company’s stock valued at $421,000 after acquiring an additional 2,189 shares during the period. Aviso Wealth Management boosted its holdings in Pfizer by 0.7% in the 2nd quarter. Aviso Wealth Management now owns 80,848 shares of the biopharmaceutical company’s stock worth $2,262,000 after buying an additional 573 shares during the period. Ascent Group LLC boosted its holdings in shares of Pfizer by 23.2% during the 2nd quarter. Ascent Group LLC now owns 50,845 shares of the biopharmaceutical company’s stock valued at $1,423,000 after purchasing an additional 9,565 shares during the last quarter. Straight Path Wealth Management boosted its holdings in shares of Pfizer by 21.3% during the 2nd quarter. Straight Path Wealth Management now owns 37,025 shares of the biopharmaceutical company’s stock valued at $1,036,000 after purchasing an additional 6,513 shares during the last quarter. Finally, MidWestOne Financial Group Inc. boosted its holdings in shares of Pfizer by 1.5% during the 2nd quarter. MidWestOne Financial Group Inc. now owns 26,530 shares of the biopharmaceutical company’s stock valued at $742,000 after purchasing an additional 386 shares during the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Stock Performance

Pfizer stock opened at $29.09 on Monday. 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 Inc. has a 1-year low of $25.20 and a 1-year high of $34.11. The firm has a market capitalization of $164.84 billion, a P/E ratio of -484.83, a price-to-earnings-growth ratio of 1.27 and a beta of 0.68. The company’s 50-day moving average is $29.31 and its 200 day moving average is $28.30.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The business 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 period in the prior year, the firm earned $0.67 EPS. Research analysts forecast that Pfizer Inc. will post 2.66 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on PFE shares. Barclays upped their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. UBS Group upped their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company upped their target price on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Company Profile

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.