Commonwealth Equity Services LLC Trims Stock Holdings in Pfizer Inc. (NYSE:PFE)

Commonwealth Equity Services LLC trimmed its position in Pfizer Inc. (NYSE:PFE) by 7.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,289,595 shares of the biopharmaceutical company’s stock after selling 333,757 shares during the period. Commonwealth Equity Services LLC owned 0.08% of Pfizer worth $123,497,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 holdings in shares of Pfizer by 30.9% during the third quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock valued at $797,901,000 after purchasing an additional 5,678,004 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Pfizer by 9.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 60,207,521 shares of the biopharmaceutical company’s stock valued at $1,997,083,000 after acquiring an additional 5,185,453 shares during the period. Bank of Nova Scotia lifted its holdings in Pfizer by 219.4% in the third quarter. Bank of Nova Scotia now owns 5,503,983 shares of the biopharmaceutical company’s stock valued at $182,567,000 after acquiring an additional 3,780,696 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in Pfizer by 33.6% in the fourth quarter. Van ECK Associates Corp now owns 12,984,150 shares of the biopharmaceutical company’s stock valued at $373,813,000 after acquiring an additional 3,265,276 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PFE has been the topic of a number of recent research reports. Morgan Stanley increased their target price on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday. TD Cowen downgraded Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 target price on the stock. in a report on Thursday, January 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Monday, April 15th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $36.00 price objective (up previously from $33.00) on shares of Pfizer in a research note on Thursday. Finally, Guggenheim started coverage on Pfizer in a research note on Friday, February 23rd. They issued a “buy” rating and a $36.00 price objective on the stock. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Pfizer currently has a consensus rating of “Hold” and an average target price of $36.00.

Pfizer Stock Up 2.4 %

Shares of PFE stock traded up $0.65 on Thursday, hitting $27.83. The stock had a trading volume of 38,160,158 shares, compared to its average volume of 42,557,941. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69. The business has a 50 day moving average price of $26.87 and a 200 day moving average price of $28.25. The company has a market cap of $157.59 billion, a PE ratio of 77.25, a P/E/G ratio of 1.15 and a beta of 0.63. Pfizer Inc. has a one year low of $25.20 and a one year high of $40.37.

Pfizer (NYSE:PFE) last announced its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The business had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. Pfizer had a net margin of 3.62% and a return on equity of 10.88%. The firm’s revenue was down 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 earnings per share. Research analysts anticipate that Pfizer Inc. will post 2.24 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.04%. Pfizer’s payout ratio is 466.67%.

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.