Prudential PLC Sells 14,102 Shares of Pfizer Inc. (NYSE:PFE)

Prudential PLC decreased its holdings in shares of Pfizer Inc. (NYSE:PFE – Get Rating) by 8.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,232 shares of the biopharmaceutical company’s stock after selling 14,102 shares during the period. Prudential PLC’s holdings in Pfizer were worth $9,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Paragon Capital Management LLC bought a new position in Pfizer in the 4th quarter worth $237,000. Peachtree Investment Partners LLC bought a new position in Pfizer in the 4th quarter worth $278,000. Stonegate Investment Group LLC bought a new position in Pfizer in the 4th quarter worth $8,569,000. Premier Asset Management LLC boosted its holdings in Pfizer by 476.8% in the 4th quarter. Premier Asset Management LLC now owns 174,836 shares of the biopharmaceutical company’s stock worth $10,324,000 after buying an additional 144,527 shares during the period. Finally, Cardinal Point Wealth Management Partners LLC bought a new position in Pfizer in the 4th quarter worth $236,000. 66.50% of the stock is owned by hedge funds and other institutional investors.

In other news, SVP Jennifer B. Damico sold 4,000 shares of the stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $50.50, for a total value of $202,000.00. Following the completion of the transaction, the senior vice president now owns 15,064 shares in the company, valued at approximately $760,732. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William R. Carapezzi, Jr. sold 32,908 shares of the stock in a transaction dated Thursday, May 12th. The shares were sold at an average price of $50.00, for a total transaction of $1,645,400.00. Following the completion of the transaction, the executive vice president now owns 38,146 shares of the company’s stock, valued at approximately $1,907,300. The disclosure for this sale can be found here. 0.05% of the stock is owned by corporate insiders.

Several research analysts have commented on PFE shares. Mizuho dropped their price objective on shares of Pfizer from $56.00 to $55.00 in a report on Thursday, February 10th. The Goldman Sachs Group set a $51.00 price objective on shares of Pfizer in a report on Wednesday, May 4th. JPMorgan Chase & Co. set a $57.00 price objective on shares of Pfizer in a report on Tuesday, May 3rd. Citigroup increased their price objective on shares of Pfizer from $46.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday, April 5th. Finally, StockNews.com raised shares of Pfizer from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 19th. Eleven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $57.05.

PFE traded up $0.55 during trading on Tuesday, hitting $51.22. The stock had a trading volume of 1,080,529 shares, compared to its average volume of 26,819,570. The stock has a 50 day simple moving average of $51.34 and a two-hundred day simple moving average of $52.02. The company has a market capitalization of $287.39 billion, a PE ratio of 11.78, a PEG ratio of 0.60 and a beta of 0.76. Pfizer Inc. has a twelve month low of $38.47 and a twelve month high of $61.71. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.13 and a current ratio of 1.39.

Pfizer (NYSE:PFE – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The biopharmaceutical company reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.04). Pfizer had a net margin of 26.97% and a return on equity of 38.29%. The company had revenue of $25.66 billion during the quarter, compared to analysts’ expectations of $24.73 billion. During the same period last year, the firm posted $0.93 earnings per share. Pfizer’s revenue was up 76.8% on a year-over-year basis. On average, equities research analysts anticipate that Pfizer Inc. will post 6.69 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Friday, May 13th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Thursday, May 12th. Pfizer’s dividend payout ratio is currently 36.70%.

Pfizer Company Profile (Get Rating)

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and women's health under the Premarin family and Eliquis brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines, and oral COVID-19 treatment under the Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga, and Paxlovid brands.

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