TCTC Holdings LLC Sells 34,179 Shares of Pfizer Inc. (NYSE:PFE)

TCTC Holdings LLC lessened its position in Pfizer Inc. (NYSE:PFE) by 2.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,314,711 shares of the biopharmaceutical company’s stock after selling 34,179 shares during the period. Pfizer accounts for 1.2% of TCTC Holdings LLC’s investment portfolio, making the stock its 22nd biggest position. TCTC Holdings LLC’s holdings in Pfizer were worth $33,315,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PFE. Brighton Jones LLC grew its holdings in Pfizer by 1,282.4% in the 4th quarter. Brighton Jones LLC now owns 666,318 shares of the biopharmaceutical company’s stock worth $17,677,000 after acquiring an additional 618,117 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Pfizer by 12.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 18,766 shares of the biopharmaceutical company’s stock worth $498,000 after purchasing an additional 2,087 shares during the period. Everstar Asset Management LLC lifted its position in shares of Pfizer by 2.9% in the 4th quarter. Everstar Asset Management LLC now owns 20,793 shares of the biopharmaceutical company’s stock worth $552,000 after purchasing an additional 594 shares during the period. Partners in Financial Planning purchased a new stake in shares of Pfizer in the 4th quarter worth about $234,000. Finally, Skba Capital Management LLC lifted its position in shares of Pfizer by 5.0% in the 4th quarter. Skba Capital Management LLC now owns 450,250 shares of the biopharmaceutical company’s stock worth $11,945,000 after purchasing an additional 21,400 shares during the period. Institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PFE. Redburn Atlantic dropped their target price on shares of Pfizer from $29.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, April 30th. Jefferies Financial Group raised their target price on shares of Pfizer from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, May 21st. Wolfe Research lifted their price target on shares of Pfizer from $22.00 to $23.00 and gave the company an “underperform” rating in a research report on Wednesday, April 30th. UBS Group lifted their price target on shares of Pfizer from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group lifted their price target on shares of Pfizer from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Pfizer presently has a consensus rating of “Hold” and a consensus price target of $28.55.

Pfizer Stock Down 1.9%

Shares of Pfizer stock opened at $24.33 on Tuesday. 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 $138.33 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 0.90 and a beta of 0.58. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $31.54. The company has a 50-day simple moving average of $24.32 and a two-hundred day simple moving average of $24.63.

Pfizer (NYSE:PFE) last announced 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 net margin of 12.62% and a return on equity of 20.33%. The firm had revenue of $13.72 billion during the quarter, compared to analyst estimates of $14.43 billion. During the same period in the previous year, the business posted $0.82 earnings per share. The business’s revenue for the quarter was down 7.8% on a year-over-year basis. On average, analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 7.07%. Pfizer’s dividend payout ratio is presently 124.64%.

About Pfizer

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.