Pfizer Inc. (NYSE:PFE) Shares Sold by BTC Capital Management Inc.

Posted by Defense World Staff on Jun 20th, 2023

BTC Capital Management Inc. lessened its holdings in Pfizer Inc. (NYSE:PFE – Get Rating) by 91.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,160 shares of the biopharmaceutical company’s stock after selling 102,498 shares during the period. BTC Capital Management Inc.’s holdings in Pfizer were worth $425,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Moneta Group Investment Advisors LLC boosted its stake in Pfizer by 89,592.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 161,143,638 shares of the biopharmaceutical company’s stock worth $8,257,000,000 after buying an additional 160,963,976 shares during the period. Norges Bank acquired a new position in shares of Pfizer in the 4th quarter worth approximately $3,150,472,000. Morgan Stanley boosted its position in shares of Pfizer by 10.3% during the 4th quarter. Morgan Stanley now owns 79,499,361 shares of the biopharmaceutical company’s stock worth $4,073,547,000 after purchasing an additional 7,419,929 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Pfizer by 13.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 59,828,849 shares of the biopharmaceutical company’s stock valued at $3,097,341,000 after purchasing an additional 6,972,650 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Pfizer in the first quarter valued at approximately $311,238,000. 67.80% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 8th. The stock was purchased at an average cost of $38.58 per share, with a total value of $38,580.00. Following the transaction, the director now directly owns 6,000 shares in the company, valued at $231,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.05% of the company’s stock.

Pfizer Price Performance

Shares of NYSE PFE opened at $40.06 on Tuesday. The stock’s 50-day simple moving average is $38.92 and its 200-day simple moving average is $42.95. The firm has a market capitalization of $226.15 billion, a PE ratio of 7.89, a price-to-earnings-growth ratio of 1.33 and a beta of 0.64. Pfizer Inc. has a fifty-two week low of $36.17 and a fifty-two week high of $54.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.11 and a current ratio of 1.37.

Pfizer (NYSE:PFE – Get Rating) last released its quarterly earnings data on Tuesday, May 2nd. The biopharmaceutical company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.23. Pfizer had a net margin of 31.25% and a return on equity of 37.53%. The company had revenue of $18.28 billion for the quarter, compared to analysts’ expectations of $16.49 billion. During the same quarter last year, the company earned $1.62 earnings per share. The firm’s revenue for the quarter was down 28.8% on a year-over-year basis. As a group, equities research analysts forecast that Pfizer Inc. will post 3.35 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Friday, May 12th were paid a $0.41 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $1.64 annualized dividend and a yield of 4.09%. Pfizer’s dividend payout ratio is presently 32.28%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Bank of America dropped their price objective on Pfizer from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, April 21st. Daiwa Capital Markets downgraded Pfizer from an “outperform” rating to a “neutral” rating and set a $38.00 target price for the company. in a research report on Thursday, May 11th. StockNews.com began coverage on shares of Pfizer in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Morgan Stanley cut their target price on shares of Pfizer from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Monday, April 10th. Finally, JPMorgan Chase & Co. set a $45.00 price target on shares of Pfizer in a research report on Monday, February 27th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $47.33.

About Pfizer

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Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, 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.