Pfizer Inc. (NYSE:PFE) Shares Sold by Diligent Investors LLC

by · The Markets Daily

Diligent Investors LLC lessened its position in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 5.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,195 shares of the biopharmaceutical company’s stock after selling 3,088 shares during the quarter. Diligent Investors LLC’s holdings in Pfizer were worth $1,348,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PFE. Norges Bank acquired a new stake in Pfizer during the fourth quarter valued at $2,328,986,000. Charles Schwab Investment Management Inc. lifted its holdings in Pfizer by 19.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock valued at $4,124,330,000 after purchasing an additional 25,315,159 shares in the last quarter. Starboard Value LP purchased a new position in Pfizer during the fourth quarter valued at $407,730,000. Raymond James Financial Inc. purchased a new position in Pfizer during the fourth quarter valued at $274,694,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Pfizer by 7.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company’s stock valued at $2,029,604,000 after purchasing an additional 5,350,381 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PFE shares. Cantor Fitzgerald started coverage on shares of Pfizer in a report on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 price objective on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $25.00 price objective (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Citigroup reaffirmed a “neutral” rating on shares of Pfizer in a report on Thursday, March 27th. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. Finally, UBS Group increased their price objective on shares of Pfizer from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.17.

View Our Latest Research Report on Pfizer

Pfizer Price Performance

Pfizer stock opened at $23.42 on Thursday. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $31.54. The stock has a market cap of $133.15 billion, a P/E ratio of 16.61, a PEG ratio of 0.64 and a beta of 0.58. The company has a 50-day moving average price of $23.02 and a 200 day moving average price of $25.02. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE – Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The firm had revenue of $13.72 billion during the quarter, compared to analysts’ expectations of $14.43 billion. During the same period last year, the business earned $0.82 earnings per share. Pfizer’s revenue was down 7.8% compared to the same quarter last year. Sell-side analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 7.34%. The ex-dividend date is Friday, May 9th. Pfizer’s payout ratio is currently 124.64%.

Pfizer Company Profile

(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.

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