Saxon Interests Inc. trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 18.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 7,846 shares of the biopharmaceutical company’s stock after selling 1,725 shares during the period. Saxon Interests Inc.’s holdings in Pfizer were worth $218,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in PFE. Wellington Management Group LLP raised its holdings in Pfizer by 4.9% in the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after acquiring an additional 11,099,024 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 worth $2,985,783,000 after acquiring an additional 8,473,686 shares during the last quarter. Morgan Stanley raised its holdings in Pfizer by 0.4% in the 3rd quarter. Morgan Stanley now owns 84,927,802 shares of the biopharmaceutical company’s stock worth $2,817,055,000 after acquiring an additional 348,628 shares during the last quarter. Norges Bank purchased a new position in Pfizer in the 4th quarter worth approximately $2,129,927,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in 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. 68.36% of the stock is currently owned by hedge funds and other institutional investors.
Pfizer Stock Down 1.4 %
Shares of PFE stock opened at $27.83 on Wednesday. The stock has a market cap of $157.70 billion, a P/E ratio of -463.76, a PEG ratio of 1.10 and a beta of 0.69. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $37.80. 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 company’s fifty day simple moving average is $27.93 and its two-hundred day simple moving average is $27.70.
Pfizer Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 6.04%. The ex-dividend date of this dividend is Thursday, July 25th. Pfizer’s payout ratio is currently -2,799.53%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on PFE. BMO Capital Markets restated an “outperform” rating and issued a $36.00 price objective (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Wednesday, June 26th. Morgan Stanley lifted their target price on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Finally, Argus downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $35.54.
Read Our Latest Stock Analysis on Pfizer
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.
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