Latitude Advisors LLC Cuts Stake in Pfizer Inc. (NYSE:PFE)

Latitude Advisors LLC cut its holdings in Pfizer Inc. (NYSE:PFE) by 3.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,199 shares of the biopharmaceutical company’s stock after selling 448 shares during the period. Latitude Advisors LLC’s holdings in Pfizer were worth $334,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Novem Group lifted its stake in Pfizer by 7.5% in the 1st quarter. Novem Group now owns 15,330 shares of the biopharmaceutical company’s stock worth $388,000 after purchasing an additional 1,064 shares in the last quarter. Private Trust Co. NA lifted its position in shares of Pfizer by 13.2% in the first quarter. Private Trust Co. NA now owns 68,558 shares of the biopharmaceutical company’s stock worth $1,737,000 after buying an additional 7,994 shares in the last quarter. Fiduciary Group LLC boosted its stake in Pfizer by 6.0% during the first quarter. Fiduciary Group LLC now owns 124,715 shares of the biopharmaceutical company’s stock valued at $3,160,000 after buying an additional 7,046 shares during the last quarter. Horizon Financial Services LLC purchased a new position in Pfizer during the 1st quarter valued at approximately $35,000. Finally, Krane Funds Advisors LLC raised its holdings in shares of Pfizer by 10.4% during the 1st quarter. Krane Funds Advisors LLC now owns 18,917 shares of the biopharmaceutical company’s stock worth $479,000 after acquiring an additional 1,781 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Performance

Shares of Pfizer stock opened at $25.32 on Thursday. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $31.54. The stock’s fifty day moving average price is $23.62 and its 200-day moving average price is $24.83. The firm has a market cap of $143.95 billion, a P/E ratio of 18.35, a P/E/G ratio of 0.91 and a beta of 0.58. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64.

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

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be paid a $0.43 dividend. The ex-dividend date is Friday, July 25th. This represents a $1.72 annualized dividend and a yield of 6.79%. Pfizer’s dividend payout ratio (DPR) is presently 124.64%.

Wall Street Analyst Weigh In

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