D.A. Davidson & CO. Cuts Position in Pfizer Inc. (NYSE:PFE)

Posted by Defense World Staff on Jul 11th, 2023

D.A. Davidson & CO. lowered its stake in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 8.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 674,337 shares of the biopharmaceutical company’s stock after selling 61,971 shares during the period. D.A. Davidson & CO.’s holdings in Pfizer were worth $27,509,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PFE. Moneta Group Investment Advisors LLC raised its position 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 acquiring an additional 160,963,976 shares during the last quarter. Norges Bank purchased a new position in shares of Pfizer during the 4th quarter worth approximately $3,150,472,000. Morgan Stanley raised 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 last quarter. Charles Schwab Investment Management Inc. lifted its stake 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 buying an additional 6,972,650 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Pfizer during the 1st quarter valued at $311,238,000. 67.80% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Stock Performance

Pfizer stock opened at $35.68 on Tuesday. The company has a market cap of $201.40 billion, a price-to-earnings ratio of 7.02, a price-to-earnings-growth ratio of 1.18 and a beta of 0.61. Pfizer Inc. has a 12 month low of $35.35 and a 12 month high of $54.93. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.37 and a quick ratio of 1.11. The stock’s 50-day moving average is $37.96 and its 200-day moving average is $41.39.

Pfizer (NYSE:PFE – Get Free Report) last announced its quarterly earnings results on Tuesday, May 2nd. The biopharmaceutical company reported $1.23 earnings per share 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 firm had revenue of $18.28 billion for the quarter, compared to analysts’ expectations of $16.49 billion. During the same period in the previous year, the company posted $1.62 earnings per share. Pfizer’s revenue was down 28.8% compared to the same quarter last year. Equities analysts anticipate that Pfizer Inc. will post 3.35 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 4.60%. The ex-dividend date is Thursday, July 27th. Pfizer’s dividend payout ratio (DPR) is presently 32.28%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Morgan Stanley reduced their price objective on Pfizer from $45.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Monday, April 10th. Barclays reduced their target price on shares of Pfizer from $43.00 to $40.00 in a report on Wednesday, May 3rd. Credit Suisse Group cut shares of Pfizer from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $47.00 to $40.00 in a research note on Thursday, June 29th. Cantor Fitzgerald reissued an “overweight” rating on shares of Pfizer in a research report on Wednesday, May 17th. Finally, UBS Group decreased their target price on shares of Pfizer from $41.00 to $39.00 in a research report on Friday, May 5th. Eleven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.67.

Insiders Place Their Bets

In related news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction dated Monday, May 8th. The stock was acquired at an average price of $38.58 per share, for a total transaction of $38,580.00. Following the completion of the purchase, the director now owns 6,000 shares in the company, valued at $231,480. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.05% of the stock is currently owned by insiders.

Pfizer Company Profile

(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.