Harbor Capital Advisors Inc. Reduces Position in Pfizer Inc. (NYSE:PFE)

Harbor Capital Advisors Inc. trimmed its position in Pfizer Inc. (NYSE:PFE) by 23.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,814 shares of the biopharmaceutical company’s stock after selling 26,685 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Pfizer were worth $2,225,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Pfizer by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 518,535,151 shares of the biopharmaceutical company’s stock valued at $13,756,738,000 after acquiring an additional 2,285,276 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Pfizer by 19.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock worth $4,124,330,000 after purchasing an additional 25,315,159 shares during the last quarter. Geode Capital Management LLC increased its holdings in Pfizer by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 120,589,782 shares of the biopharmaceutical company’s stock valued at $3,190,131,000 after purchasing an additional 2,923,537 shares during the period. Norges Bank bought a new position in Pfizer during the 4th quarter valued at approximately $2,328,986,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Pfizer by 7.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company’s stock worth $2,029,604,000 after buying an additional 5,350,381 shares during the period. 68.36% of the stock is currently owned by institutional investors.

Pfizer Trading Up 0.6%

NYSE:PFE opened at $24.46 on Thursday. The firm has a market capitalization of $139.04 billion, a P/E ratio of 17.34, a PEG ratio of 0.64 and a beta of 0.57. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. Pfizer Inc. has a one year low of $20.92 and a one year high of $31.54. The company’s 50-day simple moving average is $22.96 and its 200 day simple moving average is $24.98.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.25. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm had revenue of $13.72 billion for the quarter, compared to analysts’ expectations of $14.43 billion. During the same period in the previous year, the firm posted $0.82 EPS. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 9th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.03%. Pfizer’s dividend payout ratio is currently 124.64%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PFE. The Goldman Sachs Group reissued a “neutral” rating and set a $25.00 target price (down from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. Citigroup restated a “neutral” rating on shares of Pfizer in a report on Thursday, March 27th. Cantor Fitzgerald assumed coverage on shares of Pfizer in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 target price on the stock. Finally, UBS Group increased their price target on shares of Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

Pfizer Company Profile

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.