Archer Investment Corp Trims Stock Holdings in Pfizer Inc. (NYSE:PFE)

Archer Investment Corp cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 3.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,343 shares of the biopharmaceutical company’s stock after selling 944 shares during the quarter. Archer Investment Corp’s holdings in Pfizer were worth $718,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in 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. 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 worth $3,190,131,000 after purchasing an additional 2,923,537 shares during the last quarter. Norges Bank acquired a new position in Pfizer in the fourth quarter worth about $2,328,986,000. Massachusetts Financial Services Co. MA grew its stake in Pfizer by 7.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company’s stock worth $2,029,604,000 after purchasing an additional 5,350,381 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Pfizer by 7.7% in the fourth quarter. Northern Trust Corp now owns 58,382,560 shares of the biopharmaceutical company’s stock worth $1,548,889,000 after purchasing an additional 4,167,222 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on PFE. HSBC decreased their price target on Pfizer from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, May 19th. UBS Group lifted their price target on Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Morgan Stanley lifted their price target on Pfizer from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 30th. Wolfe Research lifted their price target on Pfizer from $22.00 to $23.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 30th. Finally, BMO Capital Markets decreased their price target on Pfizer from $36.00 to $30.00 in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Pfizer has a consensus rating of “Hold” and a consensus target price of $28.55.

Pfizer Stock Performance

Shares of NYSE PFE traded down $0.02 during midday trading on Friday, hitting $24.56. 4,923,492 shares of the company’s stock were exchanged, compared to its average volume of 41,813,740. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 0.96. The stock’s 50 day moving average price is $24.02 and its 200-day moving average price is $24.75. The firm has a market cap of $139.66 billion, a P/E ratio of 17.81, a PEG ratio of 0.90 and a beta of 0.58. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $31.54.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.25. The business had revenue of $13.72 billion during the quarter, compared to the consensus estimate of $14.43 billion. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. The business’s revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.82 earnings per share. Equities research analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, July 25th. This represents a $1.72 annualized dividend and a yield of 7.00%. Pfizer’s payout ratio is 124.64%.

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.