Pfizer Inc. (NYSE:PFE) Holdings Lowered by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI trimmed its stake in shares of Pfizer Inc. (NYSE:PFE) by 16.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,530 shares of the biopharmaceutical company’s stock after selling 23,439 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Pfizer were worth $3,400,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PFE. Wellington Management Group LLP grew its stake in shares of 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 purchasing an additional 11,099,024 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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 purchasing an additional 8,473,686 shares during the last quarter. Norges Bank purchased a new position in shares of Pfizer in the fourth quarter worth approximately $2,129,927,000. Massachusetts Financial Services Co. MA raised its holdings in shares of 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 valued at $1,972,300,000 after acquiring an additional 8,298,920 shares during the period. Finally, Van ECK Associates Corp raised its holdings in shares of Pfizer by 21.8% during the first quarter. Van ECK Associates Corp now owns 15,813,328 shares of the biopharmaceutical company’s stock valued at $438,820,000 after acquiring an additional 2,829,178 shares during the period. 68.36% of the stock is currently owned by institutional investors.

Pfizer Stock Down 0.7 %

PFE stock traded down $0.22 during trading hours on Friday, hitting $30.43. The company’s stock had a trading volume of 42,142,332 shares, compared to its average volume of 40,105,734. 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 stock has a 50 day moving average price of $28.70 and a two-hundred day moving average price of $27.83. The company has a market capitalization of $172.43 billion, a PE ratio of -505.75, a price-to-earnings-growth ratio of 1.10 and a beta of 0.69. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $37.19.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. The business had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.31%. Pfizer’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 EPS. On average, equities research analysts expect that Pfizer Inc. will post 2.58 earnings per share for the current year.

Pfizer Dividend Announcement

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 issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date is Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Wednesday. Barclays boosted their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday. Wells Fargo & Company upped their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Morgan Stanley upped their price objective on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $34.58.

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.