Tocqueville Asset Management L.P. Has $19.68 Million Stock Position in Pfizer Inc. (NYSE:PFE)

Key Points

• Tocqueville Asset Management L.P. reduced its stake in Pfizer Inc. by 35.9% in the first quarter, now holding 776,798 shares valued at approximately $19.68 million.
• Several institutional investors such as William B. Walkup & Associates Inc. and Members Trust Co. increased their positions in Pfizer, contributing to a total institutional ownership of 68.36%.
• Pfizer reported quarterly earnings per share of $0.78, exceeding analysts' expectations of $0.58, with a revenue of $14.65 billion, up 10.3% year-over-year.

Tocqueville Asset Management L.P. reduced its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 35.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 776,798 shares of the biopharmaceutical company's stock after selling 434,537 shares during the quarter. Tocqueville Asset Management L.P.'s holdings in Pfizer were worth $19,684,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. William B. Walkup & Associates Inc. increased its position in Pfizer by 1.2% in the 4th quarter. William B. Walkup & Associates Inc. now owns 39,368 shares of the biopharmaceutical company's stock valued at $1,044,000 after acquiring an additional 454 shares during the period. Members Trust Co increased its position in Pfizer by 2.1% in the 1st quarter. Members Trust Co now owns 23,175 shares of the biopharmaceutical company's stock valued at $587,000 after acquiring an additional 467 shares during the period. Sutton Place Investors LLC increased its position in Pfizer by 5.6% in the 1st quarter. Sutton Place Investors LLC now owns 8,833 shares of the biopharmaceutical company's stock valued at $224,000 after acquiring an additional 472 shares during the period. Bellevue Group AG increased its position in Pfizer by 0.3% in the 4th quarter. Bellevue Group AG now owns 141,560 shares of the biopharmaceutical company's stock valued at $3,756,000 after acquiring an additional 485 shares during the period. Finally, MSH Capital Advisors LLC increased its position in shares of Pfizer by 1.4% during the first quarter. MSH Capital Advisors LLC now owns 34,585 shares of the biopharmaceutical company's stock worth $876,000 after buying an additional 485 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Pfizer from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Berenberg Bank lowered their target price on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating for the company in a research note on Thursday, May 29th. The Goldman Sachs Group lifted their target price on shares of Pfizer from $25.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Cantor Fitzgerald assumed coverage on shares of Pfizer in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 target price for the company. Finally, Bank of America lifted their target price on shares of Pfizer from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $28.12.

Pfizer Stock Up 0.2%

Shares of NYSE PFE opened at $25.16 on Friday. The firm has a market cap of $143.05 billion, a PE ratio of 13.38, a P/E/G ratio of 0.89 and a beta of 0.52. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $30.43. The company's fifty day simple moving average is $24.60 and its 200 day simple moving average is $24.45. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.20. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The firm had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. During the same period last year, the firm earned $0.60 earnings per share. The business's quarterly revenue was up 10.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Pfizer Inc. will post 2.95 earnings per share 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. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Friday, July 25th. Pfizer's dividend payout ratio (DPR) is 91.49%.

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.

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