Hendershot Investments Inc. reduced its holdings in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 4.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,091 shares of the biopharmaceutical company’s stock after selling 2,170 shares during the quarter. Hendershot Investments Inc.’s holdings in Pfizer were worth $1,717,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of PFE. Moneta Group Investment Advisors LLC raised its stake 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 period. Norges Bank bought a new stake in shares of Pfizer in the fourth quarter valued at $3,150,472,000. Morgan Stanley raised its stake in shares of Pfizer by 10.3% in the fourth quarter. Morgan Stanley now owns 79,499,361 shares of the biopharmaceutical company’s stock valued at $4,073,547,000 after buying an additional 7,419,929 shares during the period. Charles Schwab Investment Management Inc. raised its stake 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 buying an additional 6,972,650 shares during the period. Finally, Renaissance Technologies LLC bought a new stake in shares of Pfizer in the first quarter valued at $311,238,000. 67.80% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several brokerages have recently weighed in on PFE. StockNews.com cut Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Morgan Stanley reduced their price target on Pfizer from $45.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, April 10th. Daiwa Capital Markets cut 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. Wells Fargo & Company reduced their price target on Pfizer from $50.00 to $44.00 and set an “equal weight” rating for the company in a research report on Friday, March 17th. Finally, 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. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pfizer presently has an average rating of “Hold” and an average target price of $46.53.
Pfizer Price Performance
Pfizer (NYSE:PFE – Get Free Report) last posted its quarterly earnings data on Tuesday, May 2nd. The biopharmaceutical company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.23. Pfizer had a return on equity of 37.53% and a net margin of 31.25%. The firm had revenue of $18.28 billion during the quarter, compared to analysts’ expectations of $16.49 billion. During the same period in the prior year, the business earned $1.62 EPS. The company’s revenue for the quarter was down 28.8% compared to the same quarter last year. Equities analysts predict that Pfizer Inc. will post 3.35 earnings per share for the current fiscal year.
Pfizer Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, July 28th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date is Thursday, July 27th. Pfizer’s dividend payout ratio (DPR) is presently 32.28%.
Insider Activity
In related news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction dated Monday, May 8th. The stock was bought at an average price of $38.58 per share, with a total value of $38,580.00. Following the purchase, the director now owns 6,000 shares in the company, valued at approximately $231,480. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.05% of the stock is currently owned by corporate insiders.
Pfizer Company Profile
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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