Pfizer Inc. (NYSE:PFE) Position Reduced by MV Capital Management Inc.

MV Capital Management Inc. reduced its position in Pfizer Inc. (NYSE:PFE) by 78.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,780 shares of the biopharmaceutical company’s stock after selling 21,181 shares during the period. MV Capital Management Inc.’s holdings in Pfizer were worth $160,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Woodmont Investment Counsel LLC raised its position in Pfizer by 12.0% during the first quarter. Woodmont Investment Counsel LLC now owns 120,054 shares of the biopharmaceutical company’s stock valued at $3,332,000 after buying an additional 12,883 shares during the period. Exchange Capital Management Inc. lifted its position in shares of Pfizer by 1.4% in the first quarter. Exchange Capital Management Inc. now owns 35,048 shares of the biopharmaceutical company’s stock worth $973,000 after purchasing an additional 500 shares in the last quarter. Synergy Asset Management LLC boosted its holdings in shares of Pfizer by 43.6% during the first quarter. Synergy Asset Management LLC now owns 223,484 shares of the biopharmaceutical company’s stock worth $6,202,000 after purchasing an additional 67,842 shares during the period. Westhampton Capital LLC grew its position in Pfizer by 19.5% during the first quarter. Westhampton Capital LLC now owns 31,253 shares of the biopharmaceutical company’s stock valued at $867,000 after purchasing an additional 5,100 shares in the last quarter. Finally, Cullinan Associates Inc. increased its stake in Pfizer by 42.8% in the 1st quarter. Cullinan Associates Inc. now owns 278,202 shares of the biopharmaceutical company’s stock valued at $7,720,000 after buying an additional 83,384 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PFE shares. Argus downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Wednesday, June 26th. Morgan Stanley lifted their price target on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $36.00 price objective (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Pfizer presently has an average rating of “Hold” and a consensus target price of $35.54.

Pfizer Stock Performance

NYSE:PFE opened at $27.83 on Wednesday. The firm has a market capitalization of $157.70 billion, a PE ratio of -463.76, a PEG ratio of 1.10 and a beta of 0.69. The firm’s fifty day simple moving average is $27.93 and its 200 day simple moving average is $27.70. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $37.80. The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The company had revenue of $14.88 billion for the quarter, compared to the consensus estimate of $13.87 billion. During the same quarter in the previous year, the firm posted $1.23 EPS. The business’s revenue was down 19.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Pfizer Inc. will post 2.38 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $1.68 dividend on an annualized basis and a yield of 6.04%. Pfizer’s dividend payout ratio is currently -2,799.53%.

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.