Stonebridge Capital Management Inc. Has $2.08 Million Stake in Pfizer Inc. (NYSE:PFE)

Stonebridge Capital Management Inc. trimmed its position in shares of Pfizer Inc. (NYSE:PFE) by 4.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,760 shares of the biopharmaceutical company’s stock after selling 3,593 shares during the period. Stonebridge Capital Management Inc.’s holdings in Pfizer were worth $2,075,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings 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 last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Pfizer by 8.8% in the fourth 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 acquiring an additional 8,473,686 shares during the period. Morgan Stanley boosted its position in shares of Pfizer by 0.4% in 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 during the period. Norges Bank bought a new stake in Pfizer during the fourth quarter worth about $2,129,927,000. Finally, Massachusetts Financial Services Co. MA lifted its position in Pfizer by 13.8% during 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 purchasing an additional 8,298,920 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PFE has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 price objective (up previously from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Argus cut shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Morgan Stanley upped their price objective 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, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $35.86.

Pfizer Trading Down 0.4 %

Shares of Pfizer stock traded down $0.10 on Thursday, hitting $27.32. The stock had a trading volume of 8,803,274 shares, compared to its average volume of 40,812,367. The stock has a 50 day moving average of $27.77 and a 200 day moving average of $27.69. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $37.80. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05. The firm has a market capitalization of $154.81 billion, a P/E ratio of -453.42, a PEG ratio of 1.10 and a beta of 0.70.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the prior year, the firm posted $1.23 earnings per share. The firm’s revenue was down 19.5% compared to the same quarter last year. Sell-side analysts expect that Pfizer Inc. will post 2.38 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 6.15%. Pfizer’s dividend payout ratio is presently -2,799.53%.

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.