Avanza Fonder AB Cuts Stock Holdings in Pfizer Inc. (NYSE:PFE)

Avanza Fonder AB lowered its position in Pfizer Inc. (NYSE:PFE - Free Report) by 11.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 531,062 shares of the biopharmaceutical company's stock after selling 66,648 shares during the quarter. Avanza Fonder AB's holdings in Pfizer were worth $13,117,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Rialto Wealth Management LLC purchased a new stake in shares of Pfizer during the 4th quarter valued at approximately $26,000. Clarity Asset Management Inc. bought a new stake in Pfizer during the 4th quarter valued at $27,000. Gould Capital LLC lifted its position in shares of Pfizer by 97.2% during the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 493 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of Pfizer in the fourth quarter worth $28,000. Finally, Bernard Wealth Management Corp. purchased a new position in shares of Pfizer in the fourth quarter valued at $30,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. The Goldman Sachs Group reissued a "neutral" rating and set a $25.00 price objective (down previously from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Citigroup reissued a "neutral" rating on shares of Pfizer in a report on Thursday, March 27th. Hsbc Global Res raised shares of Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. Guggenheim reaffirmed a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. Finally, Cantor Fitzgerald started coverage on shares of Pfizer in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $29.17.

Pfizer Price Performance

Shares of Pfizer stock traded up $0.28 on Wednesday, hitting $24.58. 13,121,097 shares of the company traded hands, compared to its average volume of 40,930,514. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $31.54. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The company has a market cap of $139.72 billion, a P/E ratio of 17.42, a P/E/G ratio of 0.64 and a beta of 0.57. The firm's 50-day simple moving average is $22.93 and its 200 day simple moving average is $24.98.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.25. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The business had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. During the same quarter last year, the business posted $0.82 earnings per share. The company's revenue for the quarter was down 7.8% on a year-over-year basis. Analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 7.00%. The ex-dividend date of this dividend is Friday, May 9th. Pfizer's dividend payout ratio is currently 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.