First Hawaiian Bank Sells 9,195 Shares of Pfizer Inc. (NYSE:PFE)

First Hawaiian Bank cut its stake in Pfizer Inc. (NYSE:PFE) by 20.0% in the 1st quarter, Holdings Channel reports. The fund owned 36,871 shares of the biopharmaceutical company’s stock after selling 9,195 shares during the quarter. First Hawaiian Bank’s holdings in Pfizer were worth $1,023,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Pfizer in the 4th quarter worth about $2,129,927,000. Wellington Management Group LLP grew its position in Pfizer by 4.9% during the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after acquiring an additional 11,099,024 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Pfizer by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock worth $2,985,783,000 after acquiring an additional 8,473,686 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Pfizer by 13.8% in 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 acquiring an additional 8,298,920 shares during the last quarter. Finally, Ruffer LLP boosted its stake in shares of 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. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Up 1.2 %

Shares of Pfizer stock opened at $27.74 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $39.24. The company’s fifty day simple moving average is $27.63 and its two-hundred day simple moving average is $27.73.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The company had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. Pfizer’s revenue was down 19.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.23 earnings per share. As a group, analysts expect that Pfizer Inc. will post 2.38 EPS for the current year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 10th were given a dividend of $0.42 per share. The ex-dividend date was Thursday, May 9th. This represents a $1.68 annualized dividend and a dividend yield of 6.06%. Pfizer’s dividend payout ratio is presently -2,799.53%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PFE. Guggenheim assumed coverage on shares of Pfizer in a research report on Friday, February 23rd. They issued a “buy” rating and a $36.00 target price on the stock. 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 research note on Thursday, May 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Monday. Argus cut Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Finally, Morgan Stanley increased their price objective on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.86.

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.