International Assets Investment Management LLC lessened its holdings in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 73.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 88,045 shares of the biopharmaceutical company’s stock after selling 247,478 shares during the period. International Assets Investment Management LLC’s holdings in Pfizer were worth $3,195,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Redwood Wealth Management Group LLC boosted its position in shares of Pfizer by 7.0% during the 1st quarter. Redwood Wealth Management Group LLC now owns 18,949 shares of the biopharmaceutical company’s stock worth $773,000 after acquiring an additional 1,236 shares in the last quarter. Advocate Group LLC boosted its position in shares of Pfizer by 4.7% during the 1st quarter. Advocate Group LLC now owns 207,212 shares of the biopharmaceutical company’s stock worth $8,454,000 after acquiring an additional 9,214 shares in the last quarter. Raub Brock Capital Management LP boosted its position in shares of Pfizer by 55.1% during the 1st quarter. Raub Brock Capital Management LP now owns 9,851 shares of the biopharmaceutical company’s stock worth $402,000 after acquiring an additional 3,500 shares in the last quarter. Bell Bank boosted its position in shares of Pfizer by 242.4% during the 1st quarter. Bell Bank now owns 99,113 shares of the biopharmaceutical company’s stock worth $4,044,000 after acquiring an additional 70,163 shares in the last quarter. Finally, Alpha Omega Wealth Management LLC boosted its position in shares of Pfizer by 1.7% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 113,907 shares of the biopharmaceutical company’s stock worth $4,647,000 after acquiring an additional 1,915 shares in the last quarter. Institutional investors and hedge funds own 67.80% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on PFE shares. Credit Suisse Group lowered shares of Pfizer from an “outperform” rating to a “neutral” rating and cut their target price for the company from $47.00 to $40.00 in a research report on Thursday. Wells Fargo & Company cut their target price on shares of Pfizer from $50.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Friday, March 17th. StockNews.com lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday. Daiwa Capital Markets lowered shares of Pfizer from an “outperform” rating to a “neutral” rating and set a $38.00 target price on the stock. in a research report on Thursday, May 11th. Finally, Jefferies Financial Group started coverage on shares of Pfizer in a research report on Monday, March 6th. They issued a “hold” rating and a $43.00 target price on the stock. Eleven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Pfizer currently has an average rating of “Hold” and an average price target of $46.67.
Insider Buying and Selling at Pfizer
Pfizer Price Performance
Shares of NYSE PFE opened at $36.68 on Monday. Pfizer Inc. has a twelve month low of $35.76 and a twelve month high of $54.93. The firm has a fifty day simple moving average of $38.32 and a 200 day simple moving average of $42.05. The company has a market capitalization of $207.07 billion, a PE ratio of 7.22, a P/E/G ratio of 1.22 and a beta of 0.61. The company has a quick ratio of 1.11, a current ratio of 1.37 and a debt-to-equity ratio of 0.31.
Pfizer (NYSE:PFE – Free Report) last announced its earnings results 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 business had revenue of $18.28 billion during the quarter, compared to the consensus estimate of $16.49 billion. During the same quarter last year, the firm earned $1.62 earnings per share. Pfizer’s quarterly revenue was down 28.8% on a year-over-year basis. On average, sell-side analysts forecast that Pfizer Inc. will post 3.35 EPS for the current year.
Pfizer Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, July 28th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 4.47%. The ex-dividend date is Thursday, July 27th. Pfizer’s dividend payout ratio (DPR) is currently 32.28%.
About Pfizer
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.
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