Wesleyan Assurance Society Decreases Stock Position in Pfizer Inc. (NYSE:PFE)

Wesleyan Assurance Society lessened its position in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 23.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 175,500 shares of the biopharmaceutical company's stock after selling 52,500 shares during the period. Wesleyan Assurance Society's holdings in Pfizer were worth $4,445,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in PFE. Norges Bank acquired a new stake in shares of Pfizer during the 4th quarter valued at $2,328,986,000. Starboard Value LP acquired a new position in Pfizer in the 4th quarter worth about $407,730,000. Assenagon Asset Management S.A. raised its position in 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 during the last quarter. Massachusetts Financial Services Co. MA boosted its stake 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 purchasing 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 worth $143,967,000 after purchasing an additional 5,153,257 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company's stock.

Pfizer Stock Up 3.6%

PFE stock traded up $0.87 during mid-day trading on Tuesday, reaching $25.13. 48,049,307 shares of the company traded hands, compared to its average volume of 41,933,366. 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 firm's 50 day moving average price is $24.07 and its 200 day moving average price is $24.71. The stock has a market cap of $142.84 billion, a price-to-earnings ratio of 18.21, a P/E/G ratio of 0.88 and a beta of 0.58. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $31.54.

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

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.85%. The ex-dividend date of this dividend is Friday, July 25th. Pfizer's payout ratio is 124.64%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Jefferies Financial Group lifted their target price on shares of Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. TD Cowen cut their price target on shares of Pfizer from $32.00 to $28.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley increased their price objective on Pfizer from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Cantor Fitzgerald assumed coverage on Pfizer in a report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 target price on the stock. Finally, The Goldman Sachs Group increased their price target on Pfizer from $25.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. One equities research 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price 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.