Pfizer Inc. (NYSE:PFE) Stock Position Lowered by one8zero8 LLC

Key Points

• one8zero8 LLC significantly reduced its stake in Pfizer by 63.6% in the first quarter, selling 39,670 shares and holding 22,737 shares valued at $576,000.
• Several analysts have adjusted their price targets for Pfizer, with Morgan Stanley raising it to $32.00, while Wolfe Research lowered it to $23.00, reflecting mixed sentiments in the market.
• Pfizer recently declared a quarterly dividend of $0.43 per share, resulting in a 6.94% yield based on an annualized payout of $1.72.

one8zero8 LLC lowered its position in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 63.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,737 shares of the biopharmaceutical company's stock after selling 39,670 shares during the quarter. one8zero8 LLC's holdings in Pfizer were worth $576,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of PFE. Geode Capital Management LLC lifted its stake in shares of Pfizer by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 120,589,782 shares of the biopharmaceutical company's stock worth $3,190,131,000 after purchasing an additional 2,923,537 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Pfizer by 7.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock worth $2,029,604,000 after acquiring an additional 5,350,381 shares during the period. Northern Trust Corp grew its position in Pfizer by 7.7% in the fourth quarter. Northern Trust Corp now owns 58,382,560 shares of the biopharmaceutical company's stock valued at $1,548,889,000 after acquiring an additional 4,167,222 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Pfizer by 3.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 39,402,619 shares of the biopharmaceutical company's stock valued at $1,045,351,000 after purchasing an additional 1,333,740 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Pfizer by 9.6% during the fourth quarter. Invesco Ltd. now owns 29,458,139 shares of the biopharmaceutical company's stock worth $781,524,000 after purchasing an additional 2,579,455 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company's stock.

Pfizer Price Performance

Shares of NYSE:PFE traded down $0.18 during trading on Wednesday, reaching $24.13. The company had a trading volume of 12,795,868 shares, compared to its average volume of 45,067,309. The firm's fifty day moving average is $24.34 and its 200 day moving average is $24.63. The firm has a market capitalization of $137.16 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 0.88 and a beta of 0.58. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $31.32. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 1.26.

Pfizer (NYSE:PFE - Get Free Report) last released its 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 net margin of 12.62% and a return on equity of 20.33%. The business had revenue of $13.72 billion during the quarter, compared to analyst estimates of $14.43 billion. During the same period in the prior year, the business earned $0.82 earnings per share. The business's quarterly revenue was down 7.8% on a year-over-year basis. On average, equities analysts forecast that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 7.13%. The ex-dividend date of this dividend is Friday, July 25th. Pfizer's dividend payout ratio is presently 124.64%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PFE. Redburn Atlantic lowered 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. Citigroup raised their price objective on Pfizer from $23.00 to $25.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Wolfe Research upped their target price on Pfizer from $22.00 to $23.00 and gave the company an "underperform" rating in a research report on Wednesday, April 30th. UBS Group raised their price target on shares of Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Finally, HSBC reduced their price objective on shares of Pfizer from $27.00 to $26.00 and set a "buy" rating on the stock in a research note on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Pfizer currently has a consensus rating of "Hold" and an average price target of $28.55.

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.