Neo Ivy Capital Management Trims Stock Position in Pfizer Inc. (NYSE:PFE)

Key Points

• Neo Ivy Capital Management reduced its stake in Pfizer by 44.7%, selling 62,715 shares, leaving them with 77,742 shares valued at approximately $1.97 million.
• Pfizer reported earnings per share of $0.92 for the last quarter, exceeding analyst expectations of $0.67, although its revenue decreased by 7.8% year-over-year.
• The company announced a quarterly dividend of $0.43, representing a yield of 6.94% and indicating a high dividend payout ratio of 124.64%.

Neo Ivy Capital Management lowered its position in Pfizer Inc. (NYSE:PFE - Free Report) by 44.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 77,742 shares of the biopharmaceutical company's stock after selling 62,715 shares during the period. Neo Ivy Capital Management's holdings in Pfizer were worth $1,970,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bessemer Group Inc. boosted its holdings in Pfizer by 11.1% in the 1st quarter. Bessemer Group Inc. now owns 132,478 shares of the biopharmaceutical company's stock worth $3,358,000 after buying an additional 13,228 shares during the period. Capital Advisors Inc. OK boosted its holdings in Pfizer by 1.2% in the 1st quarter. Capital Advisors Inc. OK now owns 1,413,472 shares of the biopharmaceutical company's stock worth $35,817,000 after buying an additional 17,032 shares during the period. CHURCHILL MANAGEMENT Corp bought a new position in Pfizer in the 1st quarter worth $8,283,000. Alta Advisers Ltd boosted its holdings in Pfizer by 69.6% in the 1st quarter. Alta Advisers Ltd now owns 31,912 shares of the biopharmaceutical company's stock worth $809,000 after buying an additional 13,100 shares during the period. Finally, WCM Investment Management LLC boosted its holdings in Pfizer by 8.7% in the 1st quarter. WCM Investment Management LLC now owns 125,964 shares of the biopharmaceutical company's stock worth $3,176,000 after buying an additional 10,051 shares during the period. Institutional investors own 68.36% of the company's stock.

Pfizer Price Performance

Shares of NYSE PFE traded down $0.57 during mid-day trading on Friday, hitting $24.79. 35,628,980 shares of the company's stock traded hands, compared to its average volume of 38,205,096. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 0.96. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $31.54. The company has a market capitalization of $140.91 billion, a P/E ratio of 17.96, a PEG ratio of 0.92 and a beta of 0.58. The company's 50-day moving average is $24.30 and its two-hundred day moving average is $24.68.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share 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 company had revenue of $13.72 billion for the quarter, compared to analyst estimates of $14.43 billion. During the same period in the prior year, the company posted $0.82 EPS. The firm's revenue for the quarter was down 7.8% on a year-over-year basis. On average, equities analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The company also recently disclosed 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. This represents a $1.72 dividend on an annualized basis and a yield of 6.94%. The ex-dividend date is Friday, July 25th. Pfizer's dividend payout ratio (DPR) is currently 124.64%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wolfe Research upped their target price on shares of Pfizer from $22.00 to $23.00 and gave the stock an "underperform" rating in a report on Wednesday, April 30th. The Goldman Sachs Group increased their price objective on shares of Pfizer from $25.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Cantor Fitzgerald began coverage on shares of Pfizer in a report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price objective for the company. UBS Group increased their price objective on shares of Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Finally, Morgan Stanley increased their price objective on shares of Pfizer from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $28.55.

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.