Pfizer Inc. (NYSE:PFE) Shares Sold by Sector Gamma AS

Key Points

• Sector Gamma AS reduced its holdings in Pfizer Inc. by 19.9%, now owning 925,000 shares valued at approximately $23.4 million, making it Pfizer's second-largest institutional investor.
• Pacer Advisors Inc. significantly increased its stake in Pfizer by 856.8% to over 20 million shares, while other investors have also made notable acquisitions during the quarter.
• Pfizer announced a quarterly dividend of $0.43 per share, representing an annualized yield of 6.8%, with a payout ratio of 91.49%.

Sector Gamma AS trimmed its position in Pfizer Inc. (NYSE:PFE - Free Report) by 19.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 925,000 shares of the biopharmaceutical company's stock after selling 230,000 shares during the quarter. Pfizer comprises approximately 7.5% of Sector Gamma AS's holdings, making the stock its 2nd largest position. Sector Gamma AS's holdings in Pfizer were worth $23,440,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Pacer Advisors Inc. raised its stake in Pfizer by 856.8% during the 1st quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company's stock valued at $508,164,000 after purchasing an additional 17,957,928 shares during the last quarter. Nuveen LLC acquired a new position in Pfizer during the 1st quarter valued at $389,861,000. Starboard Value LP acquired a new position in Pfizer during the 4th quarter valued at $407,730,000. Goldman Sachs Group Inc. raised its stake in Pfizer by 51.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,456,457 shares of the biopharmaceutical company's stock valued at $670,407,000 after purchasing an additional 9,041,990 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Pfizer by 307.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 10,046,340 shares of the biopharmaceutical company's stock valued at $254,574,000 after purchasing an additional 7,581,030 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Stock Down 0.2%

PFE opened at $25.12 on Friday. The firm's 50-day simple moving average is $24.56 and its 200-day simple moving average is $24.46. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.16. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $30.43. The firm has a market cap of $142.79 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 0.90 and a beta of 0.52.

Pfizer (NYSE:PFE - Get Free Report) last posted its earnings results 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 net margin of 16.84% and a return on equity of 21.42%. The business had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The firm's quarterly revenue was up 10.3% compared to the same quarter last year. Equities research analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 annualized dividend and a dividend yield of 6.8%. Pfizer's dividend payout ratio is presently 91.49%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PFE shares. HSBC cut their target price on shares of Pfizer from $27.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, May 19th. The Goldman Sachs Group upped their target price 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. Leerink Partners cut their target price on shares of Pfizer from $28.00 to $26.00 and set a "market perform" rating for the company in a research note on Wednesday, April 30th. Jefferies Financial Group raised their price objective on shares of Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Finally, Berenberg Bank decreased their target price on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $28.12.

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.

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