Factory Mutual Insurance Co. Lowers Stake in Pfizer Inc. (NYSE:PFE)

Factory Mutual Insurance Co. reduced its position in Pfizer Inc. (NYSE:PFE - Free Report) by 18.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 442,400 shares of the biopharmaceutical company's stock after selling 103,000 shares during the period. Factory Mutual Insurance Co.'s holdings in Pfizer were worth $11,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. BayBridge Capital Group LLC raised its holdings in Pfizer by 35.1% in the 1st quarter. BayBridge Capital Group LLC now owns 53,150 shares of the biopharmaceutical company's stock worth $1,347,000 after purchasing an additional 13,821 shares during the period. Sound Income Strategies LLC increased its position in shares of Pfizer by 3.4% in the first quarter. Sound Income Strategies LLC now owns 790,953 shares of the biopharmaceutical company's stock valued at $20,043,000 after buying an additional 26,131 shares in the last quarter. Foster Victor Wealth Advisors LLC raised its stake in shares of Pfizer by 6.1% during the 1st quarter. Foster Victor Wealth Advisors LLC now owns 598,475 shares of the biopharmaceutical company's stock worth $15,165,000 after buying an additional 34,440 shares during the period. Ritholtz Wealth Management lifted its position in shares of Pfizer by 54.7% during the 1st quarter. Ritholtz Wealth Management now owns 51,799 shares of the biopharmaceutical company's stock valued at $1,313,000 after buying an additional 18,309 shares in the last quarter. Finally, Wilsey Asset Management Inc. grew its stake in Pfizer by 6.6% in the 1st quarter. Wilsey Asset Management Inc. now owns 941,729 shares of the biopharmaceutical company's stock valued at $23,863,000 after acquiring an additional 58,372 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PFE shares. Cantor Fitzgerald started coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 target price on the stock. The Goldman Sachs Group reiterated a "neutral" rating and issued a $25.00 price objective (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Hsbc Global Res raised Pfizer to a "strong-buy" rating in a report on Monday, March 10th. Guggenheim reaffirmed a "buy" rating on shares of Pfizer in a research note on Tuesday, March 18th. Finally, Citigroup reissued a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $29.17.

Pfizer Trading Down 0.8%

Shares of PFE stock traded down $0.21 on Monday, hitting $24.34. 12,782,505 shares of the stock traded hands, compared to its average volume of 41,101,268. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $31.54. The firm's 50-day moving average price is $23.06 and its two-hundred day moving average price is $24.95. The stock has a market capitalization of $138.35 billion, a PE ratio of 17.24, a PEG ratio of 0.64 and a beta of 0.57.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.25. The business 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 revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.82 EPS. As a group, analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 9th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 7.07%. The ex-dividend date was Friday, May 9th. Pfizer's dividend payout ratio (DPR) is presently 124.64%.

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.