Gateway Investment Advisers LLC Has $26.76 Million Stock Holdings in Pfizer Inc. (NYSE:PFE)

Gateway Investment Advisers LLC reduced its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 7.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,056,140 shares of the biopharmaceutical company's stock after selling 86,468 shares during the quarter. Gateway Investment Advisers LLC's holdings in Pfizer were worth $26,763,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Pfizer in the fourth quarter valued at about $2,328,986,000. Charles Schwab Investment Management Inc. increased its position 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 during the last quarter. Starboard Value LP bought a new stake in Pfizer in the 4th quarter valued at about $407,730,000. Raymond James Financial Inc. bought a new stake in shares of Pfizer in the fourth quarter valued at approximately $274,694,000. Finally, Massachusetts Financial Services Co. MA lifted its position 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 worth $2,029,604,000 after acquiring an additional 5,350,381 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Pfizer Stock Performance

Shares of PFE stock opened at $23.36 on Friday. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $31.54. The stock has a market cap of $132.81 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 0.64 and a beta of 0.57. The company's fifty day moving average price is $22.95 and its 200-day moving average price is $25.00. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE - Get Free Report) last released its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.67 by $0.25. The business had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company's revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 earnings per share. On average, equities analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently disclosed 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 of this dividend is Friday, May 9th. Pfizer's payout ratio is 124.64%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Hsbc Global Res raised shares of Pfizer to a "strong-buy" rating in a report on Monday, March 10th. Cantor Fitzgerald initiated coverage on Pfizer in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price objective for the company. UBS Group lifted their target price on shares of Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Guggenheim reiterated a "buy" rating on shares of Pfizer in a research report on Tuesday, March 18th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $25.00 price objective (down from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $29.17.

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.

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