Quilter Plc Reduces Stake in Pfizer Inc. (NYSE:PFE)

Quilter Plc lowered its position in Pfizer Inc. (NYSE:PFE - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,544,655 shares of the biopharmaceutical company's stock after selling 115,872 shares during the quarter. Quilter Plc's holdings in Pfizer were worth $39,142,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC purchased a new stake in shares of Pfizer in the fourth quarter valued at approximately $26,000. Clarity Asset Management Inc. acquired a new position in shares of Pfizer during the fourth quarter valued at about $27,000. Gould Capital LLC lifted its stake in shares of Pfizer by 97.2% during the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 493 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in Pfizer during the 4th quarter valued at about $28,000. Finally, Bernard Wealth Management Corp. purchased a new stake in Pfizer in the fourth quarter valued at approximately $30,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PFE. Hsbc Global Res raised Pfizer to a "strong-buy" rating in a report on Monday, March 10th. Citigroup reiterated a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. Cantor Fitzgerald initiated coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 target price for the company. Guggenheim reiterated a "buy" rating on shares of Pfizer in a research report on Tuesday, March 18th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $25.00 price target (down previously from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.17.

Pfizer Price Performance

Shares of NYSE PFE opened at $24.30 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $138.18 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 0.88 and a beta of 0.57. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $31.54. The business has a 50 day simple moving average of $23.42 and a 200-day simple moving average of $24.85.

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

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.08%. Pfizer's dividend 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.

Want to see what other hedge funds are holding PFE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pfizer Inc. (NYSE:PFE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.