1900 Wealth Management LLC Sells 5,230 Shares of Pfizer Inc. (NYSE:PFE)

1900 Wealth Management LLC lessened its position in shares of Pfizer Inc. (NYSE:PFEFree Report) by 18.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,499 shares of the biopharmaceutical company’s stock after selling 5,230 shares during the quarter. 1900 Wealth Management LLC’s holdings in Pfizer were worth $624,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of PFE. Norges Bank acquired a new position in Pfizer during the 4th quarter valued at approximately $2,129,927,000. Wellington Management Group LLP increased its stake in shares of Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after acquiring an additional 11,099,024 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Pfizer by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock worth $3,161,261,000 after acquiring an additional 9,393,992 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Pfizer by 13.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after acquiring an additional 8,298,920 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Pfizer by 30.9% in the third quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock worth $797,901,000 after acquiring an additional 5,678,004 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of NYSE:PFE traded up $0.03 during midday trading on Tuesday, hitting $28.56. The company’s stock had a trading volume of 28,082,161 shares, compared to its average volume of 42,523,328. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $40.37. The company has a market cap of $161.84 billion, a P/E ratio of -476.00, a price-to-earnings-growth ratio of 1.21 and a beta of 0.63. The business’s 50 day simple moving average is $27.22 and its 200 day simple moving average is $27.96. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05.

Pfizer (NYSE:PFEGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The firm had revenue of $14.88 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period last year, the business earned $1.23 earnings per share. Pfizer’s revenue was down 19.5% compared to the same quarter last year. On average, analysts forecast that Pfizer Inc. will post 2.39 EPS for the current year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 10th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.88%. The ex-dividend date is Thursday, May 9th. Pfizer’s dividend payout ratio is presently -2,800.00%.

Analysts Set New Price Targets

PFE has been the topic of a number of research reports. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Guggenheim started coverage on shares of Pfizer in a research note on Friday, February 23rd. They issued a “buy” rating and a $36.00 price objective on the stock. Morgan Stanley increased their price target on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. BMO Capital Markets reissued an “outperform” rating and set a $36.00 price target (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Monday, April 15th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Pfizer has an average rating of “Hold” and an average target price of $35.86.

Check Out Our Latest Research Report on PFE

Pfizer Profile

(Free Report)

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, 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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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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