Channel Wealth LLC Sells 838 Shares of Pfizer Inc. (NYSE:PFE)

Channel Wealth LLC trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 5.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 14,211 shares of the biopharmaceutical company’s stock after selling 838 shares during the period. Channel Wealth LLC’s holdings in Pfizer were worth $360,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PFE. Norges Bank bought a new position in shares of Pfizer during the 4th quarter worth about $2,328,986,000. Charles Schwab Investment Management Inc. lifted its holdings in Pfizer by 19.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock valued at $4,124,330,000 after purchasing an additional 25,315,159 shares during the last quarter. Starboard Value LP bought a new position in Pfizer during the 4th quarter valued at about $407,730,000. Raymond James Financial Inc. bought a new position in Pfizer during the 4th quarter valued at about $274,694,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Pfizer by 7.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company’s stock valued at $2,029,604,000 after purchasing an additional 5,350,381 shares during the last quarter. 68.36% of the stock is owned by institutional investors.

Pfizer Trading Up 0.3%

Shares of NYSE PFE opened at $23.42 on Thursday. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $31.54. The stock has a market cap of $133.15 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of 0.64 and a beta of 0.58. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The company’s fifty day moving average is $23.02 and its 200-day moving average is $25.02.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.25. The firm had revenue of $13.72 billion for the quarter, compared to analyst estimates of $14.43 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 earnings per share. Equities research analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 7.34%. The ex-dividend date of this dividend is Friday, May 9th. Pfizer’s payout ratio is currently 124.64%.

Analyst Ratings Changes

Several equities analysts recently issued reports on PFE shares. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a report on Monday, March 10th. The Goldman Sachs Group restated a “neutral” rating and issued a $25.00 price objective (down previously from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. UBS Group raised their price objective on shares of Pfizer from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Citigroup restated a “neutral” rating on shares of Pfizer in a research report on Thursday, March 27th. Finally, Guggenheim restated a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.17.

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.