Perkins Coie Trust Co Cuts Stock Position in Pfizer Inc. (NYSE:PFE)

Perkins Coie Trust Co cut its holdings in Pfizer Inc. (NYSE:PFE) by 16.0% in the first quarter, HoldingsChannel reports. The firm owned 83,828 shares of the biopharmaceutical company’s stock after selling 15,908 shares during the quarter. Perkins Coie Trust Co’s holdings in Pfizer were worth $2,124,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tallon Kerry Patrick purchased a new position in Pfizer during the fourth quarter worth $509,000. Brighton Jones LLC boosted its stake in Pfizer by 1,282.4% during the fourth quarter. Brighton Jones LLC now owns 666,318 shares of the biopharmaceutical company’s stock worth $17,677,000 after buying an additional 618,117 shares during the period. Revolve Wealth Partners LLC boosted its stake in Pfizer by 12.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 18,766 shares of the biopharmaceutical company’s stock worth $498,000 after buying an additional 2,087 shares during the period. Financial Advocates Investment Management boosted its stake in Pfizer by 18.6% during the fourth quarter. Financial Advocates Investment Management now owns 53,277 shares of the biopharmaceutical company’s stock worth $1,413,000 after buying an additional 8,368 shares during the period. Finally, Silver Oak Securities Incorporated boosted its stake in Pfizer by 13.7% during the fourth quarter. Silver Oak Securities Incorporated now owns 15,886 shares of the biopharmaceutical company’s stock worth $420,000 after buying an additional 1,919 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Performance

PFE stock opened at $23.36 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The business has a 50-day moving average price of $22.95 and a 200 day moving average price of $25.00. The company has a market capitalization of $132.81 billion, a P/E ratio of 16.57, a PEG ratio of 0.64 and a beta of 0.57. Pfizer Inc. has a 1-year low of $20.92 and a 1-year high of $31.54.

Pfizer (NYSE:PFE) last announced its 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 business had revenue of $13.72 billion during the quarter, compared to the consensus estimate of $14.43 billion. During the same period in the previous year, the company posted $0.82 earnings per share. The firm’s revenue was down 7.8% on a year-over-year basis. As a group, equities research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 9th will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, May 9th. This represents a $1.72 annualized dividend and a dividend yield of 7.36%. Pfizer’s dividend payout ratio (DPR) is currently 124.64%.

Analyst Ratings Changes

PFE has been the subject of several recent analyst reports. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. UBS Group boosted their target price on shares of Pfizer from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. The Goldman Sachs Group reissued a “neutral” rating and set a $25.00 target price (down from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. Cantor Fitzgerald started coverage on shares of Pfizer in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 target price for the company. Finally, Citigroup reissued a “neutral” rating on shares of Pfizer in a research note on Thursday, March 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.