Holloway Wealth Management LLC lessened its position in Pfizer Inc. (NYSE:PFE – Get Rating) by 16.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 136,936 shares of the biopharmaceutical company’s stock after selling 26,423 during the quarter. Pfizer makes up about 2.0% of Holloway Wealth Management LLC’s portfolio, making the stock its 19th largest holding. Holloway Wealth Management LLC’s holdings in Pfizer were worth $7,089,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of Pfizer by 1.8% in the fourth quarter. State Street Corp now owns 284,816,832 shares of the biopharmaceutical company’s stock valued at $16,818,434,000 after acquiring an additional 5,013,651 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Pfizer by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 101,065,073 shares of the biopharmaceutical company’s stock valued at $5,952,333,000 after acquiring an additional 1,471,980 shares in the last quarter. Norges Bank acquired a new stake in shares of Pfizer in the fourth quarter valued at approximately $3,351,891,000. Nuveen Asset Management LLC increased its holdings in shares of Pfizer by 18.0% in the fourth quarter. Nuveen Asset Management LLC now owns 28,086,667 shares of the biopharmaceutical company’s stock valued at $1,658,518,000 after purchasing an additional 4,278,167 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in shares of Pfizer by 4.8% in the fourth quarter. Parametric Portfolio Associates LLC now owns 21,690,848 shares of the biopharmaceutical company’s stock valued at $1,280,845,000 after purchasing an additional 985,096 shares during the last quarter. Institutional investors and hedge funds own 66.50% of the company’s stock.
PFE opened at $50.66 on Wednesday. Pfizer Inc. has a 52 week low of $38.82 and a 52 week high of $61.71. The business has a fifty day simple moving average of $50.49 and a 200-day simple moving average of $52.20. The firm has a market cap of $284.25 billion, a P/E ratio of 11.62, a P/E/G ratio of 0.63 and a beta of 0.76. The company has a quick ratio of 1.13, a current ratio of 1.39 and a debt-to-equity ratio of 0.43.
Pfizer (NYSE:PFE – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The biopharmaceutical company reported $1.62 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.04). The firm had revenue of $25.66 billion for the quarter, compared to analysts’ expectations of $24.73 billion. Pfizer had a return on equity of 38.29% and a net margin of 26.97%. The company’s quarterly revenue was up 76.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 earnings per share. Sell-side analysts expect that Pfizer Inc. will post 6.61 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 6th. Investors of record on Wednesday, June 29th will be issued a $0.40 dividend. The ex-dividend date is Thursday, July 28th. This represents a $1.60 dividend on an annualized basis and a yield of 3.16%. Pfizer’s dividend payout ratio (DPR) is presently 36.70%.
In other Pfizer news, SVP Jennifer B. Damico sold 4,000 shares of Pfizer stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $50.50, for a total transaction of $202,000.00. Following the completion of the sale, the senior vice president now directly owns 15,064 shares of the company’s stock, valued at approximately $760,732. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jennifer B. Damico sold 4,218 shares of Pfizer stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $53.96, for a total value of $227,603.28. Following the sale, the senior vice president now directly owns 10,846 shares of the company’s stock, valued at $585,250.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,126 shares of company stock valued at $2,075,003. 0.05% of the stock is currently owned by company insiders.
Several equities research analysts recently commented on PFE shares. SVB Leerink started coverage on Pfizer in a report on Monday, May 23rd. They issued a “market perform” rating and a $55.00 price target for the company. JPMorgan Chase & Co. set a $57.00 price target on Pfizer in a report on Tuesday. Wells Fargo & Company cut their price target on Pfizer from $60.00 to $55.00 in a report on Wednesday, May 4th. Morgan Stanley initiated coverage on Pfizer in a report on Wednesday, April 6th. They issued an “equal weight” rating and a $55.00 price target for the company. Finally, Berenberg Bank set a $50.00 target price on Pfizer in a research note on Friday, May 27th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.26.
Pfizer Profile (Get Rating)
Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and women’s health under the Premarin family and Eliquis brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines, and oral COVID-19 treatment under the Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga, and Paxlovid brands.
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