Capital Group Private Client Services Inc. Lowers Stock Holdings in Pfizer Inc. (NYSE:PFE)

Capital Group Private Client Services Inc. lessened its holdings in shares of Pfizer Inc. (NYSE:PFE) by 78.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 57,657 shares of the biopharmaceutical company’s stock after selling 207,244 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in Pfizer were worth $1,600,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PFE. Twin Peaks Wealth Advisors LLC purchased a new stake in Pfizer in the fourth quarter valued at approximately $212,000. Trust Co of the South acquired a new position in shares of Pfizer in the 4th quarter valued at $802,000. ARK Investment Management LLC grew its stake in shares of Pfizer by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 499,757 shares of the biopharmaceutical company’s stock valued at $14,388,000 after buying an additional 35,677 shares during the period. Jacobs & Co. CA increased its holdings in shares of Pfizer by 1.6% during the 4th quarter. Jacobs & Co. CA now owns 330,023 shares of the biopharmaceutical company’s stock worth $9,501,000 after buying an additional 5,190 shares during the last quarter. Finally, First Pacific Financial raised its position in shares of Pfizer by 7.3% in the 4th quarter. First Pacific Financial now owns 20,716 shares of the biopharmaceutical company’s stock worth $596,000 after buying an additional 1,418 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Up 3.3 %

Shares of NYSE:PFE traded up $1.00 during trading on Friday, hitting $30.77. The company’s stock had a trading volume of 34,282,973 shares, compared to its average volume of 39,724,246. The company has a market capitalization of $174.36 billion, a PE ratio of -512.75, a PEG ratio of 1.17 and a beta of 0.69. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $37.19. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05. The stock’s 50-day moving average price is $28.54 and its two-hundred day moving average price is $27.77.

Pfizer (NYSE:PFE) last announced its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The company had revenue of $14.88 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period in the prior year, the company posted $1.23 EPS. Pfizer’s quarterly revenue was down 19.5% on a year-over-year basis. As a group, sell-side analysts expect that Pfizer Inc. will post 2.38 EPS for the current year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.46%. The ex-dividend date is Friday, July 26th. Pfizer’s payout ratio is currently -2,799.53%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Morgan Stanley boosted their price target on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Wednesday, July 10th. BMO Capital Markets reiterated an “outperform” rating and set a $36.00 price objective (up from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Finally, Barclays increased their price objective on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $34.50.

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.