Berkshire Asset Management LLC PA Cuts Stock Position in Pfizer Inc. $PFE

Key Points

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Berkshire Asset Management LLC PA cut its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 79.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,608 shares of the biopharmaceutical company's stock after selling 532,631 shares during the period. Berkshire Asset Management LLC PA's holdings in Pfizer were worth $3,462,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bessemer Group Inc. increased its stake in Pfizer by 11.1% during the first quarter. Bessemer Group Inc. now owns 132,478 shares of the biopharmaceutical company's stock worth $3,358,000 after purchasing an additional 13,228 shares during the period. Capital Advisors Inc. OK increased its stake in Pfizer by 1.2% during the first quarter. Capital Advisors Inc. OK now owns 1,413,472 shares of the biopharmaceutical company's stock worth $35,817,000 after purchasing an additional 17,032 shares during the period. CHURCHILL MANAGEMENT Corp purchased a new stake in Pfizer during the first quarter worth about $8,283,000. Alta Advisers Ltd increased its stake in Pfizer by 69.6% during the first quarter. Alta Advisers Ltd now owns 31,912 shares of the biopharmaceutical company's stock worth $809,000 after purchasing an additional 13,100 shares during the period. Finally, WCM Investment Management LLC increased its stake in Pfizer by 8.7% during the first quarter. WCM Investment Management LLC now owns 125,964 shares of the biopharmaceutical company's stock worth $3,176,000 after purchasing an additional 10,051 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Redburn Atlantic cut their target price on shares of Pfizer from $29.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Cantor Fitzgerald assumed coverage on shares of Pfizer in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 target price on the stock. UBS Group upped their target price on shares of Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Leerink Partners cut their target price on shares of Pfizer from $28.00 to $26.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 30th. Finally, Jefferies Financial Group upped their target price on shares of Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $28.12.

Pfizer Stock Performance

Shares of PFE opened at $25.07 on Tuesday. The stock has a 50 day moving average price of $24.62 and a 200 day moving average price of $24.41. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $142.54 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $30.43.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.20. The business had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $13.43 billion. Pfizer had a return on equity of 21.42% and a net margin of 16.84%. The company's revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 earnings per share. Research analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The company 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 6.9%. The ex-dividend date of this dividend is Friday, July 25th. Pfizer's dividend payout ratio is presently 91.49%.

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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