Pfizer Inc. (NYSE:PFE) Shares Sold by Beacon Financial Group

Beacon Financial Group decreased its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 6.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 146,523 shares of the biopharmaceutical company's stock after selling 10,711 shares during the quarter. Beacon Financial Group's holdings in Pfizer were worth $3,713,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Pfizer in the fourth quarter valued at about $2,328,986,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Pfizer by 19.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company's stock valued at $4,124,330,000 after buying an additional 25,315,159 shares in the last quarter. Starboard Value LP purchased a new stake in Pfizer in the fourth quarter worth about $407,730,000. Raymond James Financial Inc. bought a new position in Pfizer during the 4th quarter valued at approximately $274,694,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Pfizer by 7.5% during the fourth 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 acquiring an additional 5,350,381 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company's stock.

Pfizer Trading Up 1.0%

NYSE:PFE traded up $0.24 on Friday, reaching $23.36. The company's stock had a trading volume of 30,404,818 shares, compared to its average volume of 40,940,202. The stock has a 50 day moving average price of $22.97 and a 200 day moving average price of $25.01. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The firm has a market cap of $132.81 billion, a price-to-earnings ratio of 16.57, a price-to-earnings-growth ratio of 0.64 and a beta of 0.57. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $31.54.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $13.72 billion during the quarter, compared to analysts' expectations of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business's quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 earnings per share. On average, equities analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 9th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.36%. The ex-dividend date is Friday, May 9th. Pfizer's dividend payout ratio (DPR) is currently 124.64%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PFE shares. UBS Group upped their price target on Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. The Goldman Sachs Group restated a "neutral" rating and issued a $25.00 price target (down previously from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. Citigroup reiterated a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. Hsbc Global Res raised shares of Pfizer to a "strong-buy" rating in a report on Monday, March 10th. Finally, Cantor Fitzgerald began coverage on Pfizer in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $29.17.

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.