Invesco LLC Trims Stock Holdings in Pfizer Inc. (NYSE:PFE)

Invesco LLC cut its stake in shares of Pfizer Inc. (NYSE:PFE) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,770 shares of the biopharmaceutical company’s stock after selling 650 shares during the period. Invesco LLC’s holdings in Pfizer were worth $1,559,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in Pfizer by 11.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock valued at $3,766,366,000 after purchasing an additional 12,864,343 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Pfizer by 22.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock valued at $1,101,713,000 after buying an additional 6,977,587 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Pfizer in the 3rd quarter valued at $146,481,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Pfizer by 164.2% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company’s stock worth $211,737,000 after acquiring an additional 4,546,809 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Pfizer by 226.7% during the 3rd quarter. Fisher Asset Management LLC now owns 6,209,907 shares of the biopharmaceutical company’s stock valued at $179,715,000 after acquiring an additional 4,309,076 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PFE. Truist Financial reduced their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. UBS Group lowered their target price on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Sanford C. Bernstein began coverage on Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.92.

Pfizer Stock Up 0.5 %

Shares of NYSE PFE traded up $0.14 during mid-day trading on Wednesday, reaching $26.89. The company had a trading volume of 2,293,779 shares, compared to its average volume of 34,193,898. 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 Inc. has a 52-week low of $24.48 and a 52-week high of $31.54. The stock has a market cap of $152.37 billion, a P/E ratio of 36.33, a PEG ratio of 0.64 and a beta of 0.64. The firm has a 50 day simple moving average of $26.18 and a two-hundred day simple moving average of $27.91.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.42. The business had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business’s quarterly revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.17) EPS. Sell-side analysts predict that Pfizer Inc. will post 2.94 earnings per share for the current year.

Pfizer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be issued a $0.43 dividend. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 6.40%. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s dividend payout ratio is presently 227.03%.

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.