Tobam Has $1.69 Million Stock Position in Pfizer Inc. (NYSE:PFE)

Tobam decreased its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 70.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 66,755 shares of the biopharmaceutical company's stock after selling 158,987 shares during the period. Tobam's holdings in Pfizer were worth $1,692,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank bought a new position in Pfizer in the fourth quarter worth $2,328,986,000. Charles Schwab Investment Management Inc. lifted its position in Pfizer by 19.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company's stock worth $4,124,330,000 after purchasing an additional 25,315,159 shares during the period. Starboard Value LP bought a new position in Pfizer in the fourth quarter worth $407,730,000. Raymond James Financial Inc. bought a new position in Pfizer in the fourth quarter worth $274,694,000. Finally, Assenagon Asset Management S.A. lifted its position in 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 worth $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.

Pfizer Price Performance

Shares of NYSE:PFE traded down $0.33 during midday trading on Friday, reaching $24.51. The company's stock had a trading volume of 46,354,360 shares, compared to its average volume of 41,209,115. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $31.54. The company has a market capitalization of $139.35 billion, a P/E ratio of 17.38, a P/E/G ratio of 0.64 and a beta of 0.57. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The business's fifty day simple moving average is $23.06 and its 200-day simple moving average is $24.95.

Pfizer (NYSE:PFE - Get Free Report) last announced its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.25. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company had revenue of $13.72 billion during the quarter, compared to analyst estimates of $14.43 billion. During the same period last year, the company posted $0.82 earnings per share. The firm's quarterly revenue 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 EPS for the current fiscal year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 9th were given a $0.43 dividend. The ex-dividend date was Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a yield of 7.02%. Pfizer's payout ratio is 124.64%.

Analyst Ratings Changes

Several research analysts recently commented on PFE shares. UBS Group raised their target price on Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Hsbc Global Res raised Pfizer to a "strong-buy" rating in a report on Monday, March 10th. Citigroup reissued a "neutral" rating on shares of Pfizer in a report on Thursday, March 27th. Guggenheim reissued a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. Finally, Cantor Fitzgerald initiated coverage on Pfizer in a report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $29.17.

Pfizer 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.