Sumitomo Mitsui Trust Group Inc. Sells 941,490 Shares of Pfizer Inc. (NYSE:PFE)

Sumitomo Mitsui Trust Group Inc. trimmed its position in Pfizer Inc. (NYSE:PFE - Free Report) by 6.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,134,147 shares of the biopharmaceutical company's stock after selling 941,490 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Pfizer worth $332,819,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PFE. Rialto Wealth Management LLC bought a new stake in Pfizer during the fourth quarter worth approximately $26,000. Clarity Asset Management Inc. bought a new stake in Pfizer during the fourth quarter worth approximately $27,000. Gould Capital LLC increased its stake in 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 acquiring an additional 493 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in Pfizer during the fourth quarter worth approximately $28,000. Finally, Bernard Wealth Management Corp. bought a new stake in Pfizer during the fourth quarter worth approximately $30,000. 68.36% of the stock is owned by institutional investors.

Pfizer Stock Performance

Shares of PFE stock opened at $24.20 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.64. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $31.54. The stock has a market capitalization of $137.56 billion, a PE ratio of 17.53, a P/E/G ratio of 0.88 and a beta of 0.57. The firm has a 50 day moving average of $23.46 and a two-hundred day moving average of $24.85.

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

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a yield of 7.11%. Pfizer's dividend payout ratio is presently 124.64%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. UBS Group boosted their target price on Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group restated a "neutral" rating and set a $25.00 target price (down previously from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. Cantor Fitzgerald assumed coverage on Pfizer in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 target price for the company. Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a research report on Monday, March 10th. Finally, Guggenheim reiterated a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Pfizer presently has an average rating of "Moderate Buy" and an average price target of $29.17.

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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