Pfizer Inc. (NYSE:PFE) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC decreased its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 16.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 163,026 shares of the biopharmaceutical company's stock after selling 31,881 shares during the quarter. Axxcess Wealth Management LLC's holdings in Pfizer were worth $4,131,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in PFE. Norges Bank acquired a new position in shares of Pfizer in the 4th quarter valued at $2,328,986,000. Starboard Value LP acquired a new position in shares of Pfizer in the 4th quarter valued at $407,730,000. Assenagon Asset Management S.A. boosted its holdings in shares of Pfizer by 307.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 10,046,340 shares of the biopharmaceutical company's stock valued at $254,574,000 after buying an additional 7,581,030 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Pfizer by 7.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock valued at $2,029,604,000 after buying an additional 5,350,381 shares in the last quarter. Finally, APG Asset Management N.V. raised its position in Pfizer by 1,106.0% in the 4th quarter. APG Asset Management N.V. now owns 5,619,213 shares of the biopharmaceutical company's stock valued at $143,967,000 after purchasing an additional 5,153,257 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PFE. Leerink Partners reduced their price target on shares of Pfizer from $28.00 to $26.00 and set a "market perform" rating for the company in a research report on Wednesday, April 30th. Jefferies Financial Group upped their price target on shares of Pfizer from $32.00 to $33.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. The Goldman Sachs Group upped 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. Bank of America upped their price target on shares of Pfizer from $26.00 to $27.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Finally, UBS Group upped their price objective 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. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $28.55.

Pfizer Price Performance

NYSE PFE traded down $0.13 during trading hours on Friday, reaching $25.65. The company's stock had a trading volume of 34,838,317 shares, compared to its average volume of 41,792,724. The stock has a market cap of $145.83 billion, a PE ratio of 18.59, a PEG ratio of 0.94 and a beta of 0.58. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $31.54. The company's 50-day moving average is $23.89 and its two-hundred day moving average is $24.80. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 1.26.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.25. The firm had revenue of $13.72 billion for 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 firm's revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.82 EPS. Analysts forecast that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, July 25th. This represents a $1.72 annualized dividend and a dividend yield of 6.71%. 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.