Pfizer Inc. (NYSE:PFE) Shares Sold by Perkins Coie Trust Co

Perkins Coie Trust Co lessened its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 16.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 83,828 shares of the biopharmaceutical company's stock after selling 15,908 shares during the quarter. Perkins Coie Trust Co's holdings in Pfizer were worth $2,124,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Persium Advisors LLC acquired a new stake in shares of Pfizer during the first quarter worth about $495,000. Impact Capital Partners LLC increased its stake in shares of Pfizer by 26.5% during the first quarter. Impact Capital Partners LLC now owns 13,686 shares of the biopharmaceutical company's stock worth $347,000 after buying an additional 2,864 shares during the period. Pitti Group Wealth Management LLC increased its stake in shares of Pfizer by 7.5% during the first quarter. Pitti Group Wealth Management LLC now owns 15,186 shares of the biopharmaceutical company's stock worth $385,000 after buying an additional 1,060 shares during the period. SeaCrest Wealth Management LLC increased its stake in shares of Pfizer by 4.2% during the first quarter. SeaCrest Wealth Management LLC now owns 68,330 shares of the biopharmaceutical company's stock worth $1,731,000 after buying an additional 2,740 shares during the period. Finally, Procyon Advisors LLC increased its stake in shares of Pfizer by 41.4% during the first quarter. Procyon Advisors LLC now owns 78,591 shares of the biopharmaceutical company's stock worth $1,954,000 after buying an additional 23,020 shares during the period. Institutional investors and hedge funds own 68.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Guggenheim restated a "buy" rating on shares of Pfizer in a research note on Tuesday, March 18th. Citigroup restated a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. Cantor Fitzgerald assumed coverage on shares of Pfizer in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 target price on the stock. The Goldman Sachs Group restated a "neutral" rating and set a $25.00 target price (down from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. Finally, Hsbc Global Res upgraded shares of Pfizer to a "strong-buy" rating in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $29.17.

Pfizer Trading Up 1.4%

PFE traded up $0.33 during midday trading on Tuesday, hitting $24.30. The company's stock had a trading volume of 40,417,958 shares, compared to its average volume of 41,036,663. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The firm has a market cap of $138.13 billion, a P/E ratio of 17.23, a PEG ratio of 0.64 and a beta of 0.57. The firm has a 50-day moving average price of $22.93 and a two-hundred day moving average price of $24.98. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $31.54.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.67 by $0.25. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company had revenue of $13.72 billion during the quarter, compared to analysts' expectations of $14.43 billion. During the same quarter in the previous year, the business earned $0.82 EPS. The firm's revenue was down 7.8% on a year-over-year basis. On average, research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 7.08%. The ex-dividend date is Friday, May 9th. Pfizer's dividend payout ratio (DPR) is presently 124.64%.

Pfizer Company 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.