Bank of New York Mellon Corp Sells 1,177,185 Shares of Pfizer Inc. (NYSE:PFE)

Bank of New York Mellon Corp reduced its position in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 2.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,741,141 shares of the biopharmaceutical company's stock after selling 1,177,185 shares during the quarter. Bank of New York Mellon Corp owned about 0.68% of Pfizer worth $981,701,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

A number of brokerages have recently commented on PFE. BMO Capital Markets lowered their price target on Pfizer from $36.00 to $30.00 in a research note on Thursday, April 17th. Leerink Partners decreased their price objective 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. Redburn Atlantic decreased their price objective on Pfizer from $29.00 to $27.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a research report on Monday, March 10th. Finally, Guggenheim reiterated a "buy" rating on shares of Pfizer in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $28.55.

Pfizer Trading Up 0.5%

NYSE PFE opened at $25.45 on Friday. The company has a market cap of $144.66 billion, a PE ratio of 18.44, a PEG ratio of 0.92 and a beta of 0.58. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $31.54. The stock has a 50 day moving average of $23.72 and a 200-day moving average of $24.83.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.67 by $0.25. The company 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 firm's revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 EPS. On average, equities research analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 6.76%. The ex-dividend date of this dividend is Friday, July 25th. Pfizer's payout ratio is presently 124.64%.

Pfizer 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.

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