SVB Wealth LLC Reduces Stock Position in Pfizer Inc. $PFE

SVB Wealth LLC lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 14.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 143,238 shares of the biopharmaceutical company’s stock after selling 24,844 shares during the period. SVB Wealth LLC’s holdings in Pfizer were worth $3,650,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PFE. Peak Asset Management LLC increased its holdings in Pfizer by 1.4% during the 2nd quarter. Peak Asset Management LLC now owns 28,768 shares of the biopharmaceutical company’s stock worth $697,000 after purchasing an additional 402 shares during the period. Community Bank & Trust Waco Texas increased its stake in shares of Pfizer by 0.6% during the third quarter. Community Bank & Trust Waco Texas now owns 66,841 shares of the biopharmaceutical company’s stock worth $1,703,000 after buying an additional 412 shares during the period. Able Wealth Management LLC raised its holdings in Pfizer by 2.0% in the second quarter. Able Wealth Management LLC now owns 21,128 shares of the biopharmaceutical company’s stock valued at $512,000 after acquiring an additional 413 shares in the last quarter. CVA Family Office LLC lifted its stake in Pfizer by 3.3% in the third quarter. CVA Family Office LLC now owns 12,915 shares of the biopharmaceutical company’s stock worth $329,000 after acquiring an additional 413 shares during the last quarter. Finally, Boltwood Capital Management grew its holdings in Pfizer by 0.7% during the 3rd quarter. Boltwood Capital Management now owns 58,274 shares of the biopharmaceutical company’s stock worth $1,485,000 after acquiring an additional 420 shares in the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Trading Down 0.6%

NYSE:PFE opened at $27.05 on Tuesday. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $27.69. The company has a current ratio of 1.28, a quick ratio of 0.97 and a debt-to-equity ratio of 0.62. The stock’s 50 day simple moving average is $25.65 and its 200-day simple moving average is $25.11. The firm has a market cap of $153.80 billion, a P/E ratio of 19.89 and a beta of 0.47.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, February 3rd. The biopharmaceutical company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.09. The firm had revenue of $17.56 billion during the quarter, compared to analysts’ expectations of $16.93 billion. Pfizer had a net margin of 12.42% and a return on equity of 20.25%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. Equities analysts anticipate 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 Friday, March 6th. Shareholders of record on Friday, January 23rd will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Friday, January 23rd. Pfizer’s payout ratio is presently 126.47%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. The Goldman Sachs Group reissued a “neutral” rating and issued a $26.00 target price on shares of Pfizer in a report on Wednesday, November 5th. UBS Group began coverage on Pfizer in a research report on Tuesday, January 6th. They set a “neutral” rating and a $25.00 target price on the stock. TD Cowen reaffirmed a “hold” rating on shares of Pfizer in a report on Tuesday, December 30th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $27.00 price target on shares of Pfizer in a research note on Wednesday, February 4th. Finally, Bank of America reduced their price objective on shares of Pfizer from $29.00 to $28.00 and set a “neutral” rating for the company in a research report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $28.06.

Pfizer Company Profile

Pfizer Inc (NYSE: PFE) is a multinational biopharmaceutical company headquartered in New York City. Founded in 1849 by Charles Pfizer and Charles Erhart, the company researches, develops, manufactures and commercializes a broad range of medicines and vaccines for human health. Its activities span discovery research, clinical development, regulatory affairs, manufacturing and global commercial distribution across multiple therapeutic areas.

Pfizer’s portfolio and pipeline cover oncology, immunology, cardiology, endocrinology, rare diseases, hospital acute care and anti-infectives, along with a substantial vaccine business.