Evergreen Capital Management LLC Sells 69,359 Shares of Pfizer Inc. $PFE

Key Points

• Evergreen Capital Management LLC reduced its holdings in Pfizer Inc. by 14.3% during the first quarter, owning 417,343 shares valued at approximately $10.58 million.
• Pfizer reported $0.78 earnings per share for the most recent quarter, surpassing analysts' estimates, with 10.3% year-over-year revenue growth totaling $14.65 billion.
• The company announced a quarterly dividend of $0.43, with a 7.0% dividend yield and a payout ratio of 91.49% for the period ending September 2nd.

Evergreen Capital Management LLC decreased its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 14.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 417,343 shares of the biopharmaceutical company's stock after selling 69,359 shares during the period. Evergreen Capital Management LLC's holdings in Pfizer were worth $10,575,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PFE. Pacer Advisors Inc. boosted its position in shares of Pfizer by 856.8% during the first quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company's stock valued at $508,164,000 after buying an additional 17,957,928 shares during the last quarter. Nuveen LLC purchased a new position in shares of Pfizer during the first quarter valued at approximately $389,861,000. Starboard Value LP purchased a new position in shares of Pfizer during the fourth quarter valued at approximately $407,730,000. Goldman Sachs Group Inc. boosted its position in shares of Pfizer by 51.9% during the first quarter. Goldman Sachs Group Inc. now owns 26,456,457 shares of the biopharmaceutical company's stock valued at $670,407,000 after buying an additional 9,041,990 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of Pfizer by 307.5% during the first 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 during the last quarter. Hedge funds and other institutional investors own 68.36% of the company's stock.

Pfizer Stock Performance

Shares of NYSE PFE traded up $0.14 during midday trading on Friday, hitting $24.74. The company's stock had a trading volume of 37,002,549 shares, compared to its average volume of 43,711,308. The firm has a market capitalization of $140.65 billion, a price-to-earnings ratio of 13.16, a P/E/G ratio of 0.88 and a beta of 0.52. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The stock has a fifty day moving average price of $24.79 and a 200 day moving average price of $24.38. Pfizer Inc. has a one year low of $20.92 and a one year high of $30.43.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.58 by $0.20. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The company had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $13.43 billion. During the same period last year, the firm earned $0.60 EPS. Pfizer's revenue for the quarter was up 10.3% on a year-over-year basis. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. On average, research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.0%. The ex-dividend date is Friday, July 25th. Pfizer's payout ratio is presently 91.49%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Morgan Stanley boosted their price objective on Pfizer from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Bank of America boosted their price objective on Pfizer from $27.00 to $28.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. HSBC cut their price objective on Pfizer from $27.00 to $26.00 and set a "buy" rating on the stock in a research report on Monday, May 19th. Citigroup boosted their price objective on Pfizer from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Finally, Jefferies Financial Group boosted their price objective on Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $28.12.

About Pfizer

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.