Northwest & Ethical Investments L.P. Sells 55,619 Shares of Pfizer Inc. $PFE

Key Points

• Northwest & Ethical Investments L.P. reduced its stake in Pfizer Inc. by 21.0%, selling 55,619 shares and leaving them with a total of 209,453 shares worth approximately $5.3 million.
• Pfizer's recent quarterly earnings report revealed an EPS of $0.78, exceeding analysts' expectations of $0.58, with a total revenue of $14.65 billion.
• The company announced a quarterly dividend of $0.43, resulting in an annualized dividend of $1.72 and a yield of 6.8%.

Northwest & Ethical Investments L.P. trimmed its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 21.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 209,453 shares of the biopharmaceutical company's stock after selling 55,619 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Pfizer were worth $5,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in PFE. Clarity Asset Management Inc. acquired a new stake in Pfizer during the fourth quarter worth approximately $27,000. Gould Capital LLC grew its stake in 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 period. GKV Capital Management Co. Inc. acquired a new stake in Pfizer during the first quarter worth approximately $27,000. Bayforest Capital Ltd acquired a new stake in Pfizer during the first quarter worth approximately $28,000. Finally, North Capital Inc. acquired a new stake in Pfizer during the first quarter worth approximately $28,000. 68.36% of the stock is currently owned by institutional investors.

Pfizer Stock Up 0.2%

Shares of NYSE:PFE opened at $25.16 on Monday. The stock has a market cap of $143.05 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.89 and a beta of 0.52. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $30.43. The business's 50 day moving average is $24.60 and its 200 day moving average is $24.42.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping 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 business had revenue of $14.65 billion for the quarter, compared to analysts' expectations of $13.43 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business's revenue was up 10.3% on a year-over-year basis. On average, 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 disclosed 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 of this dividend is Friday, July 25th. This represents a $1.72 annualized dividend and a yield of 6.8%. Pfizer's payout ratio is currently 91.49%.

Analyst Ratings Changes

PFE has been the subject of several recent analyst reports. Redburn Atlantic decreased their target price on Pfizer from $29.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Berenberg Bank reduced their price objective on Pfizer from $28.00 to $25.00 and set a "hold" rating for the company in a research note on Thursday, May 29th. TD Cowen reduced their price objective on Pfizer from $32.00 to $28.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. HSBC reduced their price objective on Pfizer from $27.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, May 19th. Finally, Cantor Fitzgerald started coverage on Pfizer in a research note on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $28.12.

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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