McKinley Carter Wealth Services Inc. Decreases Stock Holdings in Pfizer Inc. (NYSE:PFE)

McKinley Carter Wealth Services Inc. trimmed its holdings in Pfizer Inc. (NYSE:PFE) by 9.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,930 shares of the biopharmaceutical company’s stock after selling 962 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Pfizer were worth $226,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PFE. Norges Bank acquired a new stake in Pfizer in the 4th quarter valued at approximately $2,328,986,000. Charles Schwab Investment Management Inc. increased its holdings in Pfizer by 19.5% in 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 acquired a new stake in Pfizer in the 4th quarter valued at approximately $407,730,000. Raymond James Financial Inc. acquired a new stake in Pfizer in the 4th quarter valued at approximately $274,694,000. Finally, Assenagon Asset Management S.A. increased its holdings in Pfizer by 307.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 10,046,340 shares of the biopharmaceutical company’s stock valued at $254,574,000 after purchasing an additional 7,581,030 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on PFE shares. UBS Group boosted their price target on shares of Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Citigroup restated a “neutral” rating on shares of Pfizer in a research note on Thursday, March 27th. Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. Cantor Fitzgerald assumed coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 price objective for the company. Finally, Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and a consensus price target of $29.17.

Pfizer Stock Performance

Shares of PFE opened at $24.46 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The company has a market capitalization of $139.04 billion, a PE ratio of 17.34, a PEG ratio of 0.64 and a beta of 0.57. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $31.54. The company’s 50 day moving average price is $22.96 and its 200 day moving average price is $24.98.

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

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 7.03%. The ex-dividend date of this dividend is Friday, May 9th. Pfizer’s dividend payout ratio (DPR) is presently 124.64%.

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.