Chevy Chase Trust Holdings LLC Decreases Holdings in Pfizer Inc. (NYSE:PFE)

Chevy Chase Trust Holdings LLC lessened its stake in shares of Pfizer Inc. (NYSE:PFE) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,028,400 shares of the biopharmaceutical company’s stock after selling 72,802 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Pfizer worth $80,343,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Pfizer by 1.2% in the third quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock worth $8,405,930,000 after purchasing an additional 3,405,539 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Pfizer by 11.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after purchasing an additional 12,864,343 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Pfizer by 1.6% in the third quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock worth $3,392,342,000 after purchasing an additional 1,855,419 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of 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 worth $1,101,713,000 after purchasing an additional 6,977,587 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Pfizer by 28.5% in the fourth quarter. Van ECK Associates Corp now owns 21,286,805 shares of the biopharmaceutical company’s stock worth $564,739,000 after purchasing an additional 4,726,549 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Trading Up 0.7 %

NYSE:PFE opened at $25.64 on Friday. The company has a fifty day moving average of $26.28 and a 200 day moving average of $27.63. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54. 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 market capitalization of $145.28 billion, a P/E ratio of 18.18, a P/E/G ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.15. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The company had revenue of $17.76 billion during the quarter, compared to analyst estimates of $17.26 billion. During the same period in the prior year, the business posted $0.10 EPS. The firm’s revenue was up 24.7% compared to the same quarter last year. On average, research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be given a dividend of $0.43 per share. 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 6.71%. The ex-dividend date is Friday, January 24th. Pfizer’s payout ratio is presently 121.99%.

Analyst Upgrades and Downgrades

PFE has been the subject of several recent research reports. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. UBS Group reduced their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. Truist Financial reduced their price objective on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Finally, Wolfe Research assumed coverage on shares of Pfizer in a research note on Friday, November 15th. They set an “underperform” rating and a $25.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.92.

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.