1832 Asset Management L.P. Lowers Holdings in Pfizer Inc. (NYSE:PFE)

1832 Asset Management L.P. lessened its holdings in Pfizer Inc. (NYSE:PFEFree Report) by 97.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 107,719 shares of the biopharmaceutical company’s stock after selling 4,569,372 shares during the period. 1832 Asset Management L.P.’s holdings in Pfizer were worth $3,101,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Norges Bank purchased a new position in Pfizer in the 4th quarter valued at approximately $2,129,927,000. Charles Schwab Investment Management Inc. boosted its holdings in Pfizer by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock valued at $2,985,783,000 after purchasing an additional 8,473,686 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Pfizer by 13.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after purchasing an additional 8,298,920 shares in the last quarter. Invesco Ltd. increased its holdings in Pfizer by 30.9% during the 3rd quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock worth $797,901,000 after purchasing an additional 5,678,004 shares during the period. Finally, Ruffer LLP raised its position in Pfizer by 248.7% in the 4th quarter. Ruffer LLP now owns 5,796,012 shares of the biopharmaceutical company’s stock valued at $166,837,000 after purchasing an additional 4,133,786 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Stock Down 0.8 %

Shares of PFE opened at $28.58 on Friday. The company’s 50 day simple moving average is $27.50 and its 200-day simple moving average is $27.86. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $40.37. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05.

Pfizer (NYSE:PFEGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The company had revenue of $14.88 billion for the quarter, compared to analyst estimates of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. Pfizer’s quarterly revenue was down 19.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.23 earnings per share. Sell-side analysts expect that Pfizer Inc. will post 2.38 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.88%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PFE. Morgan Stanley boosted their price objective on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Guggenheim assumed coverage on shares of Pfizer in a report on Friday, February 23rd. They issued a “buy” rating and a $36.00 price objective on the stock. Argus cut shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. BMO Capital Markets reissued an “outperform” rating and issued a $36.00 target price (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Monday, April 15th. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $35.86.

Check Out Our Latest Stock Analysis on PFE

About Pfizer

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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