Pfizer Inc. (NYSE:PFE) Shares Sold by Invesco LLC

Invesco LLC reduced its stake in shares of Pfizer Inc. (NYSE:PFE) by 1.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,770 shares of the biopharmaceutical company’s stock after selling 650 shares during the period. Invesco LLC’s holdings in Pfizer were worth $1,559,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Pfizer by 11.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock valued at $3,766,366,000 after acquiring an additional 12,864,343 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Pfizer by 22.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock valued at $1,101,713,000 after purchasing an additional 6,977,587 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Pfizer during the 3rd quarter valued at about $146,481,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Pfizer by 164.2% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company’s stock valued at $211,737,000 after buying an additional 4,546,809 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in shares of Pfizer by 226.7% in the third quarter. Fisher Asset Management LLC now owns 6,209,907 shares of the biopharmaceutical company’s stock worth $179,715,000 after buying an additional 4,309,076 shares during the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PFE has been the topic of several recent research reports. UBS Group lowered their price objective on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Wolfe Research assumed coverage on shares of Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. Citigroup lowered their price target on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Guggenheim reduced their target price on Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Price Performance

PFE traded up $0.14 during trading on Wednesday, reaching $26.89. The company’s stock had a trading volume of 2,293,779 shares, compared to its average volume of 34,193,898. 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 firm has a fifty day simple moving average of $26.18 and a two-hundred day simple moving average of $27.91. The company has a market cap of $152.37 billion, a price-to-earnings ratio of 36.33, a PEG ratio of 0.64 and a beta of 0.64. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm’s quarterly revenue was up 31.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.17) EPS. As a group, analysts anticipate that Pfizer Inc. will post 2.94 EPS for the current year.

Pfizer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, January 24th. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 6.40%. Pfizer’s payout ratio is 227.03%.

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.