Pfizer Inc. (NYSE:PFE) Shares Sold by Westchester Capital Management Inc.

Westchester Capital Management Inc. decreased its holdings in Pfizer Inc. (NYSE:PFEGet Rating) by 0.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 285,230 shares of the biopharmaceutical company’s stock after selling 1,144 shares during the quarter. Pfizer accounts for approximately 3.8% of Westchester Capital Management Inc.’s holdings, making the stock its 10th largest position. Westchester Capital Management Inc.’s holdings in Pfizer were worth $14,766,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PFE. Strategic Wealth Advisors Group LLC raised its holdings in Pfizer by 21.9% during the first quarter. Strategic Wealth Advisors Group LLC now owns 171,534 shares of the biopharmaceutical company’s stock valued at $8,802,000 after buying an additional 30,808 shares in the last quarter. Jupiter Wealth Management LLC boosted its holdings in Pfizer by 27.9% during the first quarter. Jupiter Wealth Management LLC now owns 90,285 shares of the biopharmaceutical company’s stock worth $4,674,000 after buying an additional 19,685 shares during the last quarter. San Luis Wealth Advisors LLC acquired a new stake in shares of Pfizer during the first quarter worth about $2,430,000. Maripau Wealth Management LLC acquired a new stake in shares of Pfizer in the first quarter valued at approximately $255,000. Finally, Sittner & Nelson LLC grew its holdings in Pfizer by 1.9% during the first quarter. Sittner & Nelson LLC now owns 41,751 shares of the biopharmaceutical company’s stock worth $2,161,000 after purchasing an additional 781 shares during the period. 66.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on PFE. Morgan Stanley reduced their price objective on Pfizer from $52.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Friday, July 8th. JPMorgan Chase & Co. set a $57.00 target price on Pfizer in a report on Tuesday, June 28th. StockNews.com raised shares of Pfizer from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, April 19th. Barclays boosted their target price on Pfizer to $52.00 in a research report on Tuesday, August 9th. Finally, The Goldman Sachs Group set a $50.00 price target on shares of Pfizer in a research note on Friday, July 29th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.50.

Insider Buying and Selling

In other news, SVP Jennifer B. Damico sold 4,218 shares of the company’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $53.96, for a total value of $227,603.28. Following the completion of the sale, the senior vice president now directly owns 10,846 shares of the company’s stock, valued at approximately $585,250.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.05% of the stock is owned by insiders.

Pfizer Stock Performance

Shares of NYSE PFE traded down $0.43 during trading hours on Wednesday, hitting $49.43. 170,266 shares of the stock were exchanged, compared to its average volume of 19,184,606. The company’s 50 day moving average is $50.59 and its 200 day moving average is $50.92. The firm has a market capitalization of $277.42 billion, a P/E ratio of 9.76, a P/E/G ratio of 0.61 and a beta of 0.67. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.42 and a quick ratio of 1.20. Pfizer Inc. has a one year low of $40.94 and a one year high of $61.71.

Pfizer (NYSE:PFEGet Rating) last issued its earnings results on Thursday, July 28th. The biopharmaceutical company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.95 by $0.09. Pfizer had a net margin of 28.92% and a return on equity of 43.18%. The company had revenue of $27.74 billion for the quarter, compared to the consensus estimate of $26.20 billion. During the same quarter in the previous year, the company earned $1.07 EPS. The firm’s revenue for the quarter was up 46.8% compared to the same quarter last year. On average, research analysts expect that Pfizer Inc. will post 6.54 EPS for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 6th. Stockholders of record on Wednesday, June 29th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Thursday, July 28th. Pfizer’s dividend payout ratio (DPR) is currently 31.31%.

Pfizer Company Profile

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Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and women's health under the Premarin family and Eliquis brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines, and oral COVID-19 treatment under the Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga, and Paxlovid brands.

Further Reading

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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