TCTC Holdings LLC Cuts Stake in Pfizer Inc. (NYSE:PFE)

Key Points

• TCTC Holdings LLC sold 34,179 shares of Pfizer Inc., reducing its position by 2.5%, and now holds approximately 1.31 million shares worth $33.3 million.
• Wall Street analysts have mixed views on Pfizer, with a consensus rating of "Hold" and a price target averaging $28.55.
• Pfizer recently declared a quarterly dividend of $0.43 per share, representing an annualized payout and a yield of 7.07%, despite a high payout ratio of 124.64%.

TCTC Holdings LLC decreased its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,314,711 shares of the biopharmaceutical company's stock after selling 34,179 shares during the quarter. Pfizer accounts for about 1.2% of TCTC Holdings LLC's holdings, making the stock its 22nd biggest holding. TCTC Holdings LLC's holdings in Pfizer were worth $33,315,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bessemer Group Inc. increased its holdings in shares of Pfizer by 11.1% in the 1st quarter. Bessemer Group Inc. now owns 132,478 shares of the biopharmaceutical company's stock valued at $3,358,000 after acquiring an additional 13,228 shares during the period. Capital Advisors Inc. OK increased its holdings in shares of Pfizer by 1.2% in the 1st quarter. Capital Advisors Inc. OK now owns 1,413,472 shares of the biopharmaceutical company's stock valued at $35,817,000 after acquiring an additional 17,032 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Pfizer in the 1st quarter valued at $8,283,000. Alta Advisers Ltd increased its holdings in shares of Pfizer by 69.6% in the 1st quarter. Alta Advisers Ltd now owns 31,912 shares of the biopharmaceutical company's stock valued at $809,000 after acquiring an additional 13,100 shares during the period. Finally, WCM Investment Management LLC increased its holdings in shares of Pfizer by 8.7% in the 1st quarter. WCM Investment Management LLC now owns 125,964 shares of the biopharmaceutical company's stock valued at $3,176,000 after acquiring an additional 10,051 shares during the period. Hedge funds and other institutional investors own 68.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PFE shares. Morgan Stanley boosted their price objective on shares of Pfizer from $31.00 to $32.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Leerink Partners dropped their price objective on shares of Pfizer from $28.00 to $26.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 30th. The Goldman Sachs Group boosted their price objective on shares of Pfizer from $25.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Berenberg Bank dropped their price objective on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a research note on Thursday, May 29th. Finally, UBS Group boosted their price objective on shares of Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $28.28.

Pfizer Price Performance

NYSE PFE traded up $0.14 during trading hours on Friday, reaching $23.43. The company's stock had a trading volume of 37,740,539 shares, compared to its average volume of 45,293,652. The stock has a market cap of $133.18 billion, a PE ratio of 16.97, a PEG ratio of 0.86 and a beta of 0.58. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $31.32. The company's 50-day moving average is $24.36 and its two-hundred day moving average is $24.60. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 1.26.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.25. The firm had revenue of $13.72 billion for 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 firm's revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.82 EPS. Analysts forecast that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date is Friday, July 25th. Pfizer's dividend payout ratio is 124.64%.

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.