Fiduciary Group LLC Lowers Position in Pfizer Inc. (NYSE:PFE)

Fiduciary Group LLC trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 51.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,922 shares of the biopharmaceutical company’s stock after selling 110,301 shares during the quarter. Fiduciary Group LLC’s holdings in Pfizer were worth $3,050,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in Pfizer by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock valued at $3,161,261,000 after purchasing an additional 9,393,992 shares in the last quarter. Invesco Ltd. lifted its position in Pfizer by 30.9% in the 3rd quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock worth $797,901,000 after buying an additional 5,678,004 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Pfizer by 9.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 60,207,521 shares of the biopharmaceutical company’s stock worth $1,997,083,000 after acquiring an additional 5,185,453 shares during the last quarter. Bank of Nova Scotia boosted its stake in shares of Pfizer by 219.4% in the 3rd quarter. Bank of Nova Scotia now owns 5,503,983 shares of the biopharmaceutical company’s stock valued at $182,567,000 after purchasing an additional 3,780,696 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Pfizer by 38.9% during the 3rd quarter. Canada Pension Plan Investment Board now owns 10,028,940 shares of the biopharmaceutical company’s stock valued at $332,660,000 after purchasing an additional 2,807,846 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors.

Pfizer Stock Performance

Shares of PFE traded up $0.14 on Friday, reaching $25.40. The company’s stock had a trading volume of 46,526,457 shares, compared to its average volume of 34,120,812. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $40.37. The stock has a market capitalization of $143.83 billion, a P/E ratio of 70.56, a PEG ratio of 1.14 and a beta of 0.61. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.91 and a quick ratio of 0.69. The stock’s 50 day simple moving average is $26.96 and its two-hundred day simple moving average is $28.39.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.29. The company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.37 billion. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. Pfizer’s quarterly revenue was down 41.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.14 earnings per share. Research analysts forecast that Pfizer Inc. will post 2.24 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 6.61%. The ex-dividend date is Thursday, May 9th. Pfizer’s dividend payout ratio is currently 466.67%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Argus cut shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Monday, April 15th. TD Cowen downgraded Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price target on the stock. in a report on Thursday, January 4th. Finally, Guggenheim started coverage on shares of Pfizer in a report on Friday, February 23rd. They issued a “buy” rating and a $36.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Pfizer has an average rating of “Hold” and an average target price of $36.33.

Pfizer Company 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.