Pacific Center for Financial Services Sells 1,432 Shares of Pfizer Inc. (NYSE:PFE)

Pacific Center for Financial Services lowered its stake in Pfizer Inc. (NYSE:PFEFree Report) by 24.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,335 shares of the biopharmaceutical company’s stock after selling 1,432 shares during the period. Pacific Center for Financial Services’ holdings in Pfizer were worth $125,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PFE. Norges Bank acquired a new position in shares of Pfizer in the fourth quarter worth approximately $2,129,927,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Pfizer by 8.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock worth $2,985,783,000 after buying an additional 8,473,686 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Pfizer by 13.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after purchasing an additional 8,298,920 shares during the last quarter. Invesco Ltd. increased its holdings in Pfizer by 30.9% during the third quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock worth $797,901,000 after buying an additional 5,678,004 shares during the last quarter. Finally, Ruffer LLP raised its holdings in shares of Pfizer by 248.7% in the 4th quarter. Ruffer LLP now owns 5,796,012 shares of the biopharmaceutical company’s stock worth $166,837,000 after purchasing an additional 4,133,786 shares during the period. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

NYSE PFE traded down $0.11 on Friday, hitting $27.54. 29,442,670 shares of the company traded hands, compared to its average volume of 41,504,891. The business’s 50 day moving average price is $27.56 and its 200-day moving average price is $27.79. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $40.36. The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $156.03 billion, a price-to-earnings ratio of -458.84, a P/E/G ratio of 1.09 and a beta of 0.70.

Pfizer (NYSE:PFEGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The company had revenue of $14.88 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the previous year, the firm earned $1.23 EPS. The firm’s revenue was down 19.5% compared to the same quarter last year. Equities analysts expect that Pfizer Inc. will post 2.38 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be given a $0.42 dividend. The ex-dividend date is Thursday, May 9th. This represents a $1.68 dividend on an annualized basis and a yield of 6.10%. Pfizer’s dividend payout ratio is presently -2,799.53%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 price objective (up from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Monday, April 15th. Morgan Stanley upped their target price on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Guggenheim began coverage on shares of Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 price target for the company. Finally, Argus downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pfizer has a consensus rating of “Hold” and an average target price of $35.86.

Check Out Our Latest Stock Report on Pfizer

Pfizer Company 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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