Pfizer Inc. (NYSE:PFE) Stock Holdings Decreased by LGT Fund Management Co Ltd.

Key Points

• LGT Fund Management Co Ltd. reduced its stake in Pfizer Inc. by 58.7%, selling 62,010 shares during the first quarter and retaining 43,550 shares valued at approximately $1.1 million.
• Pfizer's quarterly earnings report showed an EPS of $0.78, surpassing estimates by $0.20, with a revenue increase of 10.3% year-over-year to $14.65 billion.
• The company has declared a quarterly dividend of $0.43 per share, yielding 7.0%, with a payout ratio of 91.49%.

LGT Fund Management Co Ltd. cut its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 58.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 43,550 shares of the biopharmaceutical company's stock after selling 62,010 shares during the period. LGT Fund Management Co Ltd.'s holdings in Pfizer were worth $1,104,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. increased its holdings in shares of Pfizer by 856.8% in the 1st quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company's stock worth $508,164,000 after acquiring an additional 17,957,928 shares during the period. Nuveen LLC bought a new position in Pfizer in the 1st quarter worth about $389,861,000. Starboard Value LP bought a new position in Pfizer in the 4th quarter worth about $407,730,000. Goldman Sachs Group Inc. increased its stake in shares of Pfizer by 51.9% in 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 purchasing an additional 9,041,990 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings 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. Institutional investors own 68.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PFE. Berenberg Bank decreased their price objective on Pfizer from $28.00 to $25.00 and set a "hold" rating for the company in a report on Thursday, May 29th. Morgan Stanley increased their price target on Pfizer from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. HSBC cut their price objective on shares of Pfizer from $27.00 to $26.00 and set a "buy" rating on the stock in a research note on Monday, May 19th. Redburn Atlantic decreased their target price on shares of Pfizer from $29.00 to $27.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Finally, Cantor Fitzgerald assumed coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Pfizer presently has a consensus rating of "Hold" and a consensus target price of $28.12.

Pfizer Price Performance

PFE stock traded up $0.06 on Tuesday, hitting $24.64. 34,400,469 shares of the company's stock traded hands, compared to its average volume of 47,175,628. The stock has a market cap of $140.06 billion, a price-to-earnings ratio of 13.10, a P/E/G ratio of 0.88 and a beta of 0.52. Pfizer Inc. has a 1-year low of $20.92 and a 1-year high of $30.43. 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 of $24.49 and a 200-day moving average of $24.47.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.20. Pfizer had a return on equity of 21.42% and a net margin of 16.84%. The company had revenue of $14.65 billion for the quarter, compared to analysts' expectations of $13.43 billion. During the same quarter in the prior year, the company earned $0.60 earnings per share. The firm's revenue was up 10.3% on a year-over-year basis. On average, analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

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

Pfizer 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.