Pfizer Inc. (NYSE:PFE) Shares Sold by AGF Management Ltd.

Key Points

• AGF Management Ltd. reduced its position in Pfizer Inc. by 5.5%, now holding 1,111,163 shares worth approximately $28.16 million as per the latest SEC filing.
• Pfizer reported $0.78 earnings per share for the last quarter, beating analysts' expectations of $0.58 and achieving a revenue of $14.65 billion, which was higher than the anticipated $13.43 billion.
• The company declared a quarterly dividend of $0.43, which translates to an annualized dividend yield of 7.0%, scheduled for payment on September 2nd.

AGF Management Ltd. decreased its position in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,111,163 shares of the biopharmaceutical company's stock after selling 64,681 shares during the period. AGF Management Ltd.'s holdings in Pfizer were worth $28,157,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its holdings in shares of Pfizer by 856.8% in the first 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 period. Nuveen LLC acquired a new position in shares of Pfizer in the first quarter valued at approximately $389,861,000. Starboard Value LP acquired a new position in shares of Pfizer in the fourth quarter valued at approximately $407,730,000. Goldman Sachs Group Inc. increased its holdings in shares of Pfizer by 51.9% in the first 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 period. Finally, Assenagon Asset Management S.A. increased its holdings 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 during the period. Institutional investors and hedge funds own 68.36% of the company's stock.

Analyst Ratings Changes

PFE has been the topic of a number of recent research reports. Wolfe Research boosted their target price on Pfizer from $22.00 to $23.00 and gave the company an "underperform" rating in a report on Wednesday, April 30th. BMO Capital Markets dropped their target price on Pfizer from $36.00 to $30.00 in a report on Thursday, April 17th. Leerink Partners decreased their price target on Pfizer from $28.00 to $26.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 30th. Cantor Fitzgerald began coverage on Pfizer in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 target price on the stock. Finally, Jefferies Financial Group boosted their target price on Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. One 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 company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $28.12.

Pfizer Price Performance

Shares of NYSE PFE traded up $0.06 during trading on Tuesday, reaching $24.64. The company had a trading volume of 34,400,469 shares, compared to its average volume of 47,175,628. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $30.43. The stock has a market capitalization of $140.06 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 0.88 and a beta of 0.52. The stock has a 50-day moving average price of $24.49 and a two-hundred day moving average price of $24.47. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.20. Pfizer had a return on equity of 21.42% and a net margin of 16.84%. The company had revenue of $14.65 billion during the quarter, compared to analysts' expectations of $13.43 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. The business's revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, sell-side analysts predict that Pfizer Inc. will post 2.95 earnings per share 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 $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 7.0%. The ex-dividend date is Friday, July 25th. Pfizer's dividend payout ratio is presently 91.49%.

About Pfizer

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.