Mediolanum International Funds Ltd Cuts Stock Position in Pfizer Inc. (NYSE:PFE)

Key Points

• Mediolanum International Funds Ltd reduced its holdings in Pfizer Inc. by 26.9% during the first quarter, selling 61,637 shares, leaving the fund with 167,727 shares valued at approximately $4.23 million.
• Pfizer reported earnings of $0.92 per share in its most recent quarter, exceeding analysts' expectations, although revenue was down 7.8% compared to the previous year.
• The company's quarterly dividend of $0.43 per share reflects an annualized yield of 6.94%, with a payout ratio currently at 124.64%.

Mediolanum International Funds Ltd cut its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 26.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 167,727 shares of the biopharmaceutical company's stock after selling 61,637 shares during the period. Mediolanum International Funds Ltd's holdings in Pfizer were worth $4,228,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PFE. Clarity Asset Management Inc. purchased a new position in Pfizer in the 4th quarter worth approximately $27,000. Gould Capital LLC raised its position in Pfizer by 97.2% in the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 493 shares during the period. North Capital Inc. purchased a new stake in Pfizer in the first quarter valued at approximately $28,000. Bernard Wealth Management Corp. purchased a new stake in shares of Pfizer during the fourth quarter worth $30,000. Finally, Horizon Financial Services LLC purchased a new stake in shares of Pfizer during the first quarter worth $35,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PFE. UBS Group boosted their target price on shares of Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Bank of America upped their price objective on shares of Pfizer from $26.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. BMO Capital Markets decreased their target price on shares of Pfizer from $36.00 to $30.00 in a research note on Thursday, April 17th. Berenberg Bank decreased their target price on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating for the company in a research note on Thursday, May 29th. Finally, Leerink Partners cut their price target on shares of Pfizer from $28.00 to $26.00 and set a "market perform" rating for the company in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $28.55.

Pfizer Trading Up 0.1%

NYSE PFE traded up $0.03 during mid-day trading on Thursday, reaching $23.84. 23,597,035 shares of the stock were exchanged, compared to its average volume of 45,072,992. Pfizer Inc. has a 1-year low of $20.92 and a 1-year high of $31.32. The business's fifty day simple moving average is $24.35 and its 200 day simple moving average is $24.62. The stock has a market capitalization of $135.51 billion, a PE ratio of 17.25, a PEG ratio of 0.88 and a beta of 0.58. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 1.26.

Pfizer (NYSE:PFE - Get Free Report) last announced its earnings results 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. The firm had revenue of $13.72 billion for the quarter, compared to analyst estimates of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. Pfizer's revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.82 earnings per share. On average, research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be issued 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 7.22%. 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.