Pfizer Inc. (NYSE:PFE) Shares Sold by Ridgecrest Wealth Partners LLC

Ridgecrest Wealth Partners LLC decreased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 8.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,511 shares of the biopharmaceutical company’s stock after selling 4,015 shares during the quarter. Ridgecrest Wealth Partners LLC’s holdings in Pfizer were worth $1,263,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PFE. Wellington Management Group LLP boosted its stake in shares of Pfizer by 4.9% in 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 purchasing an additional 11,099,024 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Pfizer by 8.8% in the 4th 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 buying an additional 8,473,686 shares during the last quarter. Morgan Stanley grew its stake in shares of Pfizer by 0.4% during the third quarter. Morgan Stanley now owns 84,927,802 shares of the biopharmaceutical company’s stock valued at $2,817,055,000 after acquiring an additional 348,628 shares in the last quarter. Norges Bank purchased a new stake in shares of Pfizer during the fourth quarter worth about $2,129,927,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Pfizer by 13.8% in the fourth 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 in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Performance

Shares of NYSE PFE opened at $27.98 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. The firm’s 50-day moving average price is $27.90 and its two-hundred day moving average price is $27.68. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $37.80. The stock has a market capitalization of $158.55 billion, a P/E ratio of -466.26, a P/E/G ratio of 1.10 and a beta of 0.70.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The business had revenue of $14.88 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the prior year, the firm earned $1.23 EPS. The business’s quarterly revenue was down 19.5% on a year-over-year basis. As a group, sell-side analysts forecast that Pfizer Inc. will post 2.38 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 3rd. Stockholders of record on Friday, July 26th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.00%. The ex-dividend date is Thursday, July 25th. Pfizer’s dividend payout ratio (DPR) is -2,799.53%.

Wall Street Analysts Forecast Growth

PFE has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Wednesday. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $36.00 price target (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Finally, Morgan Stanley raised their price objective on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Pfizer currently has an average rating of “Hold” and an average target price of $35.54.

About Pfizer

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.