Hamel Associates Inc. Decreases Stake in Pfizer Inc. (NYSE:PFE)

Hamel Associates Inc. trimmed its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 90.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,335 shares of the biopharmaceutical company's stock after selling 102,890 shares during the period. Hamel Associates Inc.'s holdings in Pfizer were worth $262,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Norges Bank bought a new stake in Pfizer during the fourth quarter valued at approximately $2,328,986,000. Starboard Value LP bought a new stake in Pfizer during the fourth quarter valued at approximately $407,730,000. Assenagon Asset Management S.A. grew its position in 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 period. Massachusetts Financial Services Co. MA grew its position in 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 valued at $2,029,604,000 after buying an additional 5,350,381 shares during the period. Finally, APG Asset Management N.V. grew its position in Pfizer by 1,106.0% during the fourth quarter. APG Asset Management N.V. now owns 5,619,213 shares of the biopharmaceutical company's stock valued at $143,967,000 after buying an additional 5,153,257 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Up 0.1%

Shares of NYSE:PFE traded up $0.01 during trading on Thursday, reaching $25.37. The stock had a trading volume of 25,643,723 shares, compared to its average volume of 38,513,248. The firm's 50-day simple moving average is $24.26 and its 200 day simple moving average is $24.70. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64. Pfizer Inc. has a one year low of $20.92 and a one year high of $31.54. The company has a market capitalization of $144.25 billion, a P/E ratio of 18.39, a PEG ratio of 0.92 and a beta of 0.58.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The firm had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. During the same quarter in the previous year, the firm earned $0.82 EPS. The company's quarterly revenue was down 7.8% compared to the same quarter last year. As a group, research 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 Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be given a $0.43 dividend. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.78%. Pfizer's payout ratio is 124.64%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PFE. Wolfe Research boosted their target price on shares of Pfizer from $22.00 to $23.00 and gave the company an "underperform" rating in a research report on Wednesday, April 30th. Jefferies Financial Group upped their price target on shares of Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. HSBC dropped their price target on shares of Pfizer from $27.00 to $26.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Bank of America upped their price target on shares of Pfizer from $26.00 to $27.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Finally, BMO Capital Markets dropped their price target on shares of Pfizer from $36.00 to $30.00 in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $28.55.

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.