Pfizer Inc. (NYSE:PFE) Shares Sold by Ballentine Partners LLC

Ballentine Partners LLC trimmed its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 11.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 92,770 shares of the biopharmaceutical company's stock after selling 11,718 shares during the quarter. Ballentine Partners LLC's holdings in Pfizer were worth $2,351,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PFE. Norges Bank acquired a new position in shares of Pfizer in the 4th quarter worth $2,328,986,000. Starboard Value LP purchased a new position in shares of Pfizer during the fourth quarter valued at $407,730,000. Assenagon Asset Management S.A. grew its holdings in shares of Pfizer by 307.5% during the first quarter. Assenagon Asset Management S.A. now owns 10,046,340 shares of the biopharmaceutical company's stock valued at $254,574,000 after buying an additional 7,581,030 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Pfizer by 7.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock valued at $2,029,604,000 after buying an additional 5,350,381 shares in the last quarter. Finally, APG Asset Management N.V. grew its holdings in shares of Pfizer by 1,106.0% during the fourth quarter. APG Asset Management N.V. now owns 5,619,213 shares of the biopharmaceutical company's stock valued at $143,967,000 after buying an additional 5,153,257 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Stock Down 0.5%

Shares of PFE opened at $25.65 on Friday. The company has a market capitalization of $145.83 billion, a P/E ratio of 18.59, a PEG ratio of 0.94 and a beta of 0.58. 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 one year low of $20.92 and a one year high of $31.54. The business's 50 day simple moving average is $23.89 and its 200-day simple moving average is $24.79.

Pfizer (NYSE:PFE - Get Free Report) last announced its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.67 by $0.25. The business had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. Pfizer's revenue was down 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 EPS. As a group, sell-side analysts predict 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. Shareholders of record on Friday, July 25th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 6.71%. The ex-dividend date is Friday, July 25th. Pfizer's dividend payout ratio is 124.64%.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of research analyst reports. Leerink Partners lowered their price target on Pfizer from $28.00 to $26.00 and set a "market perform" rating on the stock in a report on Wednesday, April 30th. Bank of America lifted their price target on Pfizer from $26.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. 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 report on Tuesday, April 22nd. Guggenheim reissued a "buy" rating on shares of Pfizer in a research report on Tuesday, March 18th. Finally, Citigroup lifted their price objective on Pfizer from $23.00 to $25.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.