Swiss National Bank Decreases Position in Pfizer Inc. (NYSE:PFE)

Swiss National Bank decreased its position in Pfizer Inc. (NYSE:PFE - Free Report) by 0.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,983,012 shares of the biopharmaceutical company's stock after selling 25,300 shares during the period. Swiss National Bank owned about 0.28% of Pfizer worth $405,010,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Clarity Asset Management Inc. bought a new position in Pfizer in the 4th quarter worth approximately $27,000. Gould Capital LLC lifted its position 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 acquiring an additional 493 shares in the last quarter. Bayforest Capital Ltd bought a new position in shares of Pfizer in the first quarter worth $28,000. North Capital Inc. purchased a new position in shares of Pfizer in the first quarter valued at $28,000. Finally, Bernard Wealth Management Corp. bought a new stake in shares of Pfizer during the 4th quarter valued at $30,000. 68.36% of the stock is owned by institutional investors.

Pfizer Stock Performance

NYSE:PFE opened at $24.25 on Friday. Pfizer Inc. has a 1-year low of $20.92 and a 1-year high of $30.43. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.96. The business has a 50 day moving average of $24.42 and a 200 day moving average of $24.52. The company has a market capitalization of $137.84 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 0.87 and a beta of 0.52.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.20. The company had revenue of $14.65 billion during the quarter, compared to analysts' expectations of $13.43 billion. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The firm's revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 EPS. On average, sell-side analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be given a $0.43 dividend. The ex-dividend date is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.1%. Pfizer's payout ratio is presently 91.49%.

Analyst Ratings Changes

Several research analysts have commented on PFE shares. Morgan Stanley raised their target price on Pfizer from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Cantor Fitzgerald started coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price objective for the company. Redburn Atlantic decreased their target price on shares of Pfizer from $29.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. The Goldman Sachs Group raised their price target on shares of Pfizer from $25.00 to $27.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Finally, TD Cowen reduced their price target on shares of Pfizer from $32.00 to $28.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $28.12.

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.

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.