Pfizer Inc. (NYSE:PFE) Holdings Cut by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC decreased its stake in Pfizer by 61.3%, selling over 3 million shares during the first quarter, resulting in a remaining holding of approximately 1.9 million shares valued at $48.47 million.
• Pfizer reported quarterly earnings of $0.78 EPS, exceeding analysts' expectations and showing a 10.3% revenue increase year-over-year, with total revenue of $14.65 billion.
• The company has declared a quarterly dividend of $0.43 per share, providing an annualized yield of 6.8% and indicating a payout ratio of 91.49%.

Neuberger Berman Group LLC reduced its position in Pfizer Inc. (NYSE:PFE - Free Report) by 61.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,912,923 shares of the biopharmaceutical company's stock after selling 3,032,970 shares during the period. Neuberger Berman Group LLC's holdings in Pfizer were worth $48,473,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clarity Asset Management Inc. bought a new position in shares of Pfizer during the fourth quarter worth about $27,000. Gould Capital LLC lifted its position in shares of Pfizer by 97.2% during the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 493 shares during the last quarter. GKV Capital Management Co. Inc. acquired a new stake in Pfizer during the first quarter worth about $27,000. Bayforest Capital Ltd acquired a new stake in Pfizer during the first quarter worth about $28,000. Finally, North Capital Inc. acquired a new stake in Pfizer during the first quarter worth about $28,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Trading Up 0.2%

Pfizer stock traded up $0.05 during midday trading on Friday, reaching $25.16. The stock had a trading volume of 31,819,451 shares, compared to its average volume of 45,666,590. The firm's fifty day simple moving average is $24.56 and its two-hundred day simple moving average is $24.46. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $30.43. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.85. The firm has a market cap of $143.05 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.90 and a beta of 0.52.

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 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 firm had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. During the same period in the previous year, the firm earned $0.60 earnings per share. Pfizer's quarterly revenue was up 10.3% on a year-over-year basis. Equities analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders 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 yield of 6.8%. Pfizer's dividend payout ratio is presently 91.49%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PFE. TD Cowen dropped their price objective on shares of Pfizer from $32.00 to $28.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. BMO Capital Markets dropped their price target on shares of Pfizer from $36.00 to $30.00 in a research note on Thursday, April 17th. The Goldman Sachs Group raised their price target on shares of Pfizer from $25.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Citigroup raised their price target on shares of Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Finally, Wolfe Research raised their price target on shares of Pfizer from $22.00 to $23.00 and gave the company an "underperform" rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $28.12.

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.