Pfizer Inc. (NYSE:PFE) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 0.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,021,416 shares of the biopharmaceutical company’s stock after selling 6,984 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Pfizer were worth $76,563,000 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 the business. Vanguard Group Inc. increased its position in shares of Pfizer by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 518,535,151 shares of the biopharmaceutical company’s stock worth $13,756,738,000 after purchasing an additional 2,285,276 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Pfizer by 19.5% during the 4th 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 boosted 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 acquiring an additional 2,923,537 shares during the period. Norges Bank purchased a new position in Pfizer during the 4th quarter valued at about $2,328,986,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Pfizer by 7.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company’s stock valued at $2,029,604,000 after acquiring an additional 5,350,381 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Hsbc Global Res upgraded Pfizer to a “strong-buy” rating in a report on Monday, March 10th. UBS Group raised their target price on Pfizer from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th. Guggenheim restated a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. The Goldman Sachs Group restated a “neutral” rating and set a $25.00 target price (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Finally, Citigroup restated a “neutral” rating on shares of Pfizer in a report on Thursday, March 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.17.

Pfizer Stock Performance

Shares of PFE opened at $24.04 on Tuesday. The stock has a 50-day simple moving average of $23.30 and a 200-day simple moving average of $24.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 1.26. The stock has a market capitalization of $136.68 billion, a PE ratio of 17.42, a PEG ratio of 0.87 and a beta of 0.57. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $31.54.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.25. The business had revenue of $13.72 billion during the quarter, compared to analysts’ expectations of $14.43 billion. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 EPS. On average, analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 9th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 7.15%. The ex-dividend date of this dividend was Friday, May 9th. Pfizer’s payout ratio is 124.64%.

Pfizer 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.