Pfizer Inc. (NYSE:PFE) Shares Sold by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. decreased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 8.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 74,945 shares of the biopharmaceutical company’s stock after selling 7,046 shares during the period. Bahl & Gaynor Inc.’s holdings in Pfizer were worth $2,080,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Wellington Management Group LLP lifted its position in shares of Pfizer by 4.9% during the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after acquiring an additional 11,099,024 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Pfizer by 8.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock valued at $2,985,783,000 after acquiring an additional 8,473,686 shares during the period. Norges Bank acquired a new stake in shares of Pfizer during the 4th quarter valued at approximately $2,129,927,000. Massachusetts Financial Services Co. MA lifted its position in shares of Pfizer by 13.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after acquiring an additional 8,298,920 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of Pfizer by 21.8% during the 1st quarter. Van ECK Associates Corp now owns 15,813,328 shares of the biopharmaceutical company’s stock valued at $438,820,000 after acquiring an additional 2,829,178 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 brokerages have recently weighed in on PFE. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Wednesday, July 10th. Barclays boosted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 10th. BMO Capital Markets restated an “outperform” rating and set a $36.00 target price (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Finally, Morgan Stanley lifted their target price on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, May 2nd. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Pfizer currently has an average rating of “Hold” and a consensus target price of $34.50.

Pfizer Stock Performance

NYSE PFE traded down $0.12 on Tuesday, hitting $29.48. The stock had a trading volume of 13,251,520 shares, compared to its average volume of 39,724,246. The company’s 50-day moving average is $28.43 and its two-hundred day moving average is $27.73. The stock has a market cap of $167.05 billion, a price-to-earnings ratio of -491.08, a P/E/G ratio of 1.17 and a beta of 0.69. Pfizer Inc. has a one year low of $25.20 and a one year high of $37.80. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66.

Pfizer (NYSE:PFE) last released its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, beating 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 business had revenue of $14.88 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same period in the prior year, the business earned $1.23 earnings per share. The business’s quarterly revenue was down 19.5% on a year-over-year basis. On average, analysts expect that Pfizer Inc. will post 2.39 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.70%. Pfizer’s dividend payout ratio is currently -2,799.53%.

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.