Pfizer Inc. (NYSE:PFE) Shares Sold by CX Institutional

CX Institutional trimmed its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 38.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,235 shares of the biopharmaceutical company's stock after selling 19,155 shares during the quarter. CX Institutional's holdings in Pfizer were worth $791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of PFE. Vanguard Group Inc. raised its stake in Pfizer by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 518,535,151 shares of the biopharmaceutical company's stock worth $13,756,738,000 after buying an additional 2,285,276 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Pfizer by 19.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company's stock worth $4,124,330,000 after buying an additional 25,315,159 shares in the last quarter. Geode Capital Management LLC raised its stake in Pfizer by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 120,589,782 shares of the biopharmaceutical company's stock worth $3,190,131,000 after buying an additional 2,923,537 shares in the last quarter. Norges Bank bought a new position in Pfizer in the fourth quarter worth about $2,328,986,000. Finally, Massachusetts Financial Services Co. MA raised its stake in Pfizer by 7.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock worth $2,029,604,000 after buying an additional 5,350,381 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on PFE. Hsbc Global Res upgraded shares of Pfizer to a "strong-buy" rating in a report on Monday, March 10th. Citigroup restated a "neutral" rating on shares of Pfizer in a report on Thursday, March 27th. 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 report on Wednesday, April 30th. Cantor Fitzgerald began coverage on shares of Pfizer in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price objective on the stock. Finally, Guggenheim restated a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, Pfizer presently has a consensus rating of "Moderate Buy" and an average price target of $29.17.

Pfizer Stock Down 1.3%

Shares of NYSE PFE traded down $0.33 during trading hours on Friday, hitting $24.51. 46,354,360 shares of the stock were exchanged, compared to its average volume of 41,162,126. 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 company has a market cap of $139.35 billion, a PE ratio of 17.38, a PEG ratio of 0.64 and a beta of 0.57. The firm has a fifty day moving average price of $23.06 and a 200-day moving average price of $24.96. 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 issued its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.25. The business had revenue of $13.72 billion for the quarter, compared to analyst estimates of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. Pfizer'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 business posted $0.82 EPS. On average, sell-side analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 9th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 7.02%. The ex-dividend date was Friday, May 9th. Pfizer's dividend payout ratio is presently 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.