Pfizer Inc. (NYSE:PFE) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 8.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,714,516 shares of the biopharmaceutical company's stock after selling 438,345 shares during the quarter. Victory Capital Management Inc. owned approximately 0.08% of Pfizer worth $119,466,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PFE. Norges Bank acquired a new position in shares of Pfizer during the fourth quarter valued at approximately $2,328,986,000. Starboard Value LP purchased a new stake in shares of Pfizer in the fourth quarter valued at approximately $407,730,000. Assenagon Asset Management S.A. grew its position in shares of Pfizer by 307.5% in 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 purchasing an additional 7,581,030 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Pfizer by 7.5% in 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 purchasing an additional 5,350,381 shares in the last quarter. Finally, APG Asset Management N.V. grew its position in shares of Pfizer by 1,106.0% in 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 purchasing an additional 5,153,257 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group upped their price target on Pfizer from $32.00 to $33.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. HSBC dropped their price target on Pfizer from $27.00 to $26.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Bank of America upped their price target on Pfizer from $26.00 to $27.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Leerink Partners dropped their price target on Pfizer from $28.00 to $26.00 and set a "market perform" rating for the company in a research report on Wednesday, April 30th. Finally, UBS Group increased their price objective on Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $28.55.

Pfizer Trading Down 0.5%

NYSE:PFE traded down $0.12 during trading hours on Friday, reaching $24.46. 36,264,235 shares of the stock were exchanged, compared to its average volume of 45,763,777. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.64. The business has a 50-day moving average of $24.02 and a two-hundred day moving average of $24.75. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $31.54. The company has a market capitalization of $139.06 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 0.90 and a beta of 0.58.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.25. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. The company had revenue of $13.72 billion for the quarter, compared to analysts' expectations of $14.43 billion. During the same period in the prior year, the firm earned $0.82 earnings per share. The firm's revenue was down 7.8% compared to the same quarter last year. On average, equities analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 7.03%. The ex-dividend date of this dividend is Friday, July 25th. Pfizer's payout ratio is currently 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.