Mirae Asset Global Investments Co. Ltd. Decreases Stock Holdings in Pfizer Inc. (NYSE:PFE)

Mirae Asset Global Investments Co. Ltd. cut its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 79.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 809,793 shares of the biopharmaceutical company's stock after selling 3,097,889 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Pfizer were worth $20,415,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC increased its position in shares of Pfizer by 1,282.4% during the 4th quarter. Brighton Jones LLC now owns 666,318 shares of the biopharmaceutical company's stock valued at $17,677,000 after purchasing an additional 618,117 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in Pfizer by 12.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 18,766 shares of the biopharmaceutical company's stock valued at $498,000 after buying an additional 2,087 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in Pfizer by 2,193.2% during the fourth quarter. Proficio Capital Partners LLC now owns 225,584 shares of the biopharmaceutical company's stock valued at $5,985,000 after buying an additional 215,747 shares during the last quarter. Versor Investments LP purchased a new stake in Pfizer during the fourth quarter valued at approximately $570,000. Finally, Tower Bridge Advisors increased its holdings in Pfizer by 2.0% during the fourth quarter. Tower Bridge Advisors now owns 64,997 shares of the biopharmaceutical company's stock valued at $1,724,000 after buying an additional 1,296 shares during the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Stock Performance

PFE opened at $24.20 on Friday. The stock has a market capitalization of $137.56 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 0.88 and a beta of 0.57. The company has a fifty day moving average of $23.46 and a 200 day moving average of $24.84. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $31.54. 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 issued its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.25. The firm had revenue of $13.72 billion during the quarter, compared to analyst estimates of $14.43 billion. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. The business's quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 earnings per share. As a group, sell-side analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.11%. The ex-dividend date is Friday, July 25th. Pfizer's dividend payout ratio (DPR) is presently 124.64%.

Wall Street Analyst Weigh In

PFE has been the subject of several analyst reports. Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. Citigroup restated a "neutral" rating on shares of Pfizer in a research report on Thursday, March 27th. Cantor Fitzgerald initiated coverage on shares of Pfizer in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 target price for the company. UBS Group increased their target price on shares of Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Finally, Guggenheim reissued a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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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