Davidson Trust Co. boosted its stake in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 32.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,016 shares of the biopharmaceutical company’s stock after purchasing an additional 3,473 shares during the quarter. Davidson Trust Co.’s holdings in Pfizer were worth $572,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC increased its position in Pfizer by 89,592.7% in the 4th 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. Morgan Stanley increased its position in Pfizer by 10.3% during the fourth quarter. Morgan Stanley now owns 79,499,361 shares of the biopharmaceutical company’s stock worth $4,073,547,000 after acquiring an additional 7,419,929 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Pfizer by 4.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,340,479 shares of the biopharmaceutical company’s stock valued at $3,741,204,000 after purchasing an additional 3,216,573 shares during the last quarter. Norges Bank bought a new stake in Pfizer in the 4th quarter valued at $3,150,472,000. Finally, Bank of New York Mellon Corp grew its position in Pfizer by 0.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 56,659,179 shares of the biopharmaceutical company’s stock worth $2,479,407,000 after purchasing an additional 317,858 shares during the last quarter. Institutional investors and hedge funds own 67.80% of the company’s stock.
Insider Buying and Selling at Pfizer
In related news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction dated Monday, May 8th. The stock was bought at an average cost of $38.58 per share, with a total value of $38,580.00. Following the purchase, the director now directly owns 6,000 shares in the company, valued at approximately $231,480. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.05% of the company’s stock.
Pfizer Stock Down 0.3 %
Pfizer (NYSE:PFE – Free Report) last released its earnings results on Tuesday, May 2nd. The biopharmaceutical company reported $1.23 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $16.49 billion. During the same period in the prior year, the company posted $1.62 EPS. The company’s revenue was down 28.8% compared to the same quarter last year. On average, analysts predict that Pfizer Inc. will post 3.35 earnings per share for the current year.
Pfizer Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, July 28th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $1.64 dividend on an annualized basis and a yield of 4.62%. Pfizer’s dividend payout ratio is presently 32.28%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the stock. UBS Group reduced their target price on shares of Pfizer from $41.00 to $39.00 in a research note on Friday, May 5th. Cantor Fitzgerald restated an “overweight” rating on shares of Pfizer in a research report on Wednesday, May 17th. Bank of America reduced their target price on Pfizer from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, April 21st. Barclays lowered their price target on shares of Pfizer from $43.00 to $40.00 in a report on Wednesday, May 3rd. Finally, 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. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $46.67.
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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