Pfizer Inc. (NYSE:PFE) Shares Sold by Steigerwald Gordon & Koch Inc.

Posted by Defense World Staff on Jul 3rd, 2023

Steigerwald Gordon & Koch Inc. trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 1.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,402 shares of the biopharmaceutical company’s stock after selling 402 shares during the period. Steigerwald Gordon & Koch Inc.’s holdings in Pfizer were worth $873,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PFE. Moneta Group Investment Advisors LLC raised its position in shares of Pfizer by 89,592.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 161,143,638 shares of the biopharmaceutical company’s stock valued at $8,257,000,000 after buying an additional 160,963,976 shares during the last quarter. Norges Bank acquired a new position in Pfizer in the 4th quarter valued at $3,150,472,000. Morgan Stanley lifted its stake 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. grew its position in shares of Pfizer by 13.2% in the first 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 period. Finally, Renaissance Technologies LLC acquired a new position in Pfizer in the first quarter valued at $311,238,000. 67.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were purchased at an average cost of $38.58 per share, with a total value of $38,580.00. Following the completion of the acquisition, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $231,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.05% of the company’s stock.

Analyst Upgrades and Downgrades

PFE has been the subject of several recent analyst reports. Credit Suisse Group cut Pfizer from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $47.00 to $40.00 in a report on Thursday. Daiwa Capital Markets lowered shares of Pfizer from an “outperform” rating to a “neutral” rating and set a $38.00 price target for the company. in a research report on Thursday, May 11th. Barclays lowered their price objective on shares of Pfizer from $43.00 to $40.00 in a research note on Wednesday, May 3rd. StockNews.com cut Pfizer from a “buy” rating to a “hold” rating in a report on Friday. Finally, Bank of America dropped their price target on Pfizer from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Friday, April 21st. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $46.67.

Pfizer Trading Up 1.6 %

NYSE PFE opened at $36.68 on Monday. The stock has a market cap of $207.07 billion, a P/E ratio of 7.22, a PEG ratio of 1.22 and a beta of 0.61. The company’s fifty day simple moving average is $38.32 and its 200-day simple moving average is $42.05. The company has a current ratio of 1.37, a quick ratio of 1.11 and a debt-to-equity ratio of 0.31. Pfizer Inc. has a 52 week low of $35.76 and a 52 week high of $54.93.

Pfizer (NYSE:PFE – Free Report) last issued its quarterly earnings data on Tuesday, May 2nd. The biopharmaceutical company reported $1.23 EPS 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 firm had revenue of $18.28 billion for the quarter, compared to analyst estimates of $16.49 billion. During the same quarter in the previous year, the business posted $1.62 EPS. The firm’s revenue was down 28.8% compared to the same quarter last year. Equities research analysts predict that Pfizer Inc. will post 3.35 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, July 28th will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Thursday, July 27th. Pfizer’s payout ratio is 32.28%.

About Pfizer

(Free Report)

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.