Commonwealth Financial Services LLC Trims Holdings in Pfizer Inc. (NYSE:PFE)

Commonwealth Financial Services LLC trimmed its position in Pfizer Inc. (NYSE:PFE) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,514 shares of the biopharmaceutical company’s stock after selling 549 shares during the quarter. Commonwealth Financial Services LLC’s holdings in Pfizer were worth $875,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. raised its stake in shares of Pfizer by 11.1% in the first quarter. Bessemer Group Inc. now owns 132,478 shares of the biopharmaceutical company’s stock worth $3,358,000 after purchasing an additional 13,228 shares during the last quarter. Capital Advisors Inc. OK raised its stake in shares of Pfizer by 1.2% in the first quarter. Capital Advisors Inc. OK now owns 1,413,472 shares of the biopharmaceutical company’s stock worth $35,817,000 after purchasing an additional 17,032 shares during the last quarter. CHURCHILL MANAGEMENT Corp purchased a new position in shares of Pfizer in the first quarter worth about $8,283,000. Alta Advisers Ltd raised its position in Pfizer by 69.6% during the first quarter. Alta Advisers Ltd now owns 31,912 shares of the biopharmaceutical company’s stock valued at $809,000 after acquiring an additional 13,100 shares in the last quarter. Finally, WCM Investment Management LLC raised its position in Pfizer by 8.7% during the first quarter. WCM Investment Management LLC now owns 125,964 shares of the biopharmaceutical company’s stock valued at $3,176,000 after acquiring an additional 10,051 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PFE has been the subject of several recent research reports. BMO Capital Markets reduced their price target on Pfizer from $36.00 to $30.00 in a research report on Thursday, April 17th. TD Cowen reduced their price target on Pfizer from $32.00 to $28.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. Cantor Fitzgerald initiated coverage on Pfizer in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 price target for the company. Bank of America lifted their price target on Pfizer from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Leerink Partners reduced their price target on Pfizer from $28.00 to $26.00 and set a “market perform” rating for the company in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.44.

Pfizer Stock Performance

Shares of NYSE:PFE opened at $23.95 on Thursday. 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 business’s 50 day moving average price is $24.40 and its 200-day moving average price is $24.53. The firm has a market capitalization of $136.15 billion, a PE ratio of 12.74, a P/E/G ratio of 0.90 and a beta of 0.52. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $30.43.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.20. The firm had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. Pfizer had a return on equity of 21.33% and a net margin of 16.84%. The business’s revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. As a group, equities research analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a yield of 7.2%. Pfizer’s dividend payout ratio (DPR) is presently 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.