Pathstone Holdings LLC Reduces Holdings in Pfizer Inc. (NYSE:PFE)

Pathstone Holdings LLC decreased its position in shares of Pfizer Inc. (NYSE:PFE) by 13.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 560,936 shares of the biopharmaceutical company’s stock after selling 85,935 shares during the period. Pathstone Holdings LLC’s holdings in Pfizer were worth $14,882,000 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 PFE. Norges Bank acquired a new position in Pfizer during the 4th quarter worth $2,328,986,000. Charles Schwab Investment Management Inc. grew its holdings in Pfizer by 19.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock worth $4,124,330,000 after acquiring an additional 25,315,159 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Pfizer during the 4th quarter worth $274,694,000. Massachusetts Financial Services Co. MA grew its holdings in Pfizer by 7.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company’s stock worth $2,029,604,000 after acquiring an additional 5,350,381 shares in the last quarter. Finally, APG Asset Management N.V. grew its holdings in Pfizer by 1,106.0% during the 4th quarter. APG Asset Management N.V. now owns 5,619,213 shares of the biopharmaceutical company’s stock worth $143,967,000 after acquiring an additional 5,153,257 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Down 3.8%

PFE stock opened at $22.01 on Thursday. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $31.54. The company has a market capitalization of $125.13 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 0.64 and a beta of 0.58. The firm’s 50-day moving average is $23.80 and its two-hundred day moving average is $25.44. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS 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 company had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. During the same period in the previous year, the firm earned $0.82 EPS. Pfizer’s revenue was down 7.8% on a year-over-year basis. On average, analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.81%. Pfizer’s payout ratio is currently 124.64%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $25.00 price objective (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. UBS Group lifted their price target on shares of Pfizer from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th. Citigroup reaffirmed a “neutral” rating on shares of Pfizer in a report on Thursday, March 27th. Cantor Fitzgerald began coverage on shares of Pfizer in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $24.00 price target for the company. Finally, Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Pfizer presently has an average rating of “Moderate Buy” and an average price target of $29.17.

About Pfizer

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.