Wellington Management Group LLP Sells 36,497,190 Shares of Pfizer Inc. $PFE

Key Points

• Wellington Management Group LLP has significantly reduced its holdings in Pfizer Inc. by 26.1%, selling 36,497,190 shares and now holds approximately 1.82% of the company, valued at $2.62 billion.
• Analysts have provided mixed ratings on Pfizer's stock, with one sell rating, eleven holds, five buys, and two strong buys, while the average price target is set at $28.12.
• Pfizer reported a quarterly earnings per share of $0.78, exceeding estimates, with revenue of $14.65 billion, marking a 10.3% increase year-over-year.

Wellington Management Group LLP cut its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 26.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 103,493,699 shares of the biopharmaceutical company's stock after selling 36,497,190 shares during the period. Wellington Management Group LLP owned 1.82% of Pfizer worth $2,622,530,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Clarity Asset Management Inc. acquired a new position in Pfizer during the 4th quarter worth $27,000. Gould Capital LLC lifted its position in shares of Pfizer by 97.2% in the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 493 shares during the last quarter. GKV Capital Management Co. Inc. bought a new position in shares of Pfizer in the 1st quarter worth about $27,000. North Capital Inc. bought a new position in shares of Pfizer in the 1st quarter worth about $28,000. Finally, Bayforest Capital Ltd acquired a new stake in shares of Pfizer in the 1st quarter worth about $28,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on PFE shares. Morgan Stanley increased their price objective on shares of Pfizer from $32.00 to $33.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. The Goldman Sachs Group increased their target price on shares of Pfizer from $25.00 to $27.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Berenberg Bank decreased their target price on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating for the company in a research report on Thursday, May 29th. Redburn Atlantic decreased their target price on shares of Pfizer from $29.00 to $27.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Finally, Bank of America increased their target price on shares of Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $28.12.

Pfizer Stock Performance

Shares of PFE stock traded up $0.2250 during trading on Tuesday, reaching $25.2950. The company had a trading volume of 29,134,298 shares, compared to its average volume of 45,102,056. The company has a market capitalization of $143.82 billion, a PE ratio of 13.45, a PEG ratio of 0.89 and a beta of 0.52. The firm's 50 day simple moving average is $24.64 and its two-hundred day simple moving average is $24.41. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.85. Pfizer Inc. has a one year low of $20.92 and a one year high of $30.43.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.20. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.The company had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $13.43 billion. During the same quarter last year, the company earned $0.60 EPS. The company's quarterly revenue was up 10.3% on a year-over-year basis. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. Sell-side analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 annualized dividend and a dividend yield of 6.8%. Pfizer's payout ratio is 91.49%.

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.