Robertson Stephens Wealth Management LLC Sells 7,240 Shares of Pfizer Inc. (NYSE:PFE)

Robertson Stephens Wealth Management LLC lessened its holdings in Pfizer Inc. (NYSE:PFE) by 13.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,689 shares of the biopharmaceutical company’s stock after selling 7,240 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Pfizer were worth $1,344,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PFE. Charles Schwab Investment Management Inc. increased its holdings in Pfizer by 10.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock valued at $3,161,261,000 after buying an additional 9,393,992 shares during the period. Morgan Stanley boosted its stake in shares of Pfizer by 0.4% in the 3rd quarter. Morgan Stanley now owns 84,927,802 shares of the biopharmaceutical company’s stock valued at $2,817,055,000 after purchasing an additional 348,628 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Pfizer by 9.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 60,207,521 shares of the biopharmaceutical company’s stock valued at $1,997,083,000 after purchasing an additional 5,185,453 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Pfizer by 30.9% during the third quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock worth $797,901,000 after buying an additional 5,678,004 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of Pfizer by 0.6% in the 3rd quarter. California Public Employees Retirement System now owns 18,380,833 shares of the biopharmaceutical company’s stock valued at $609,692,000 after acquiring an additional 101,256 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Price Performance

NYSE PFE traded up $0.32 on Thursday, reaching $27.50. 19,546,307 shares of the company’s stock traded hands, compared to its average volume of 42,324,809. The stock has a market cap of $155.72 billion, a PE ratio of 76.89, a P/E/G ratio of 1.15 and a beta of 0.63. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.91 and a quick ratio of 0.69. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $40.37. The stock has a 50-day simple moving average of $26.87 and a 200 day simple moving average of $28.25.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.29. Pfizer had a net margin of 3.62% and a return on equity of 10.88%. The company had revenue of $14.25 billion for the quarter, compared to analysts’ expectations of $14.37 billion. During the same quarter last year, the company earned $1.14 EPS. The firm’s revenue was down 41.3% compared to the same quarter last year. As a group, research analysts predict that Pfizer Inc. will post 2.24 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.68 annualized dividend and a yield of 6.11%. Pfizer’s payout ratio is 466.67%.

Analyst Ratings Changes

PFE has been the subject of a number of research reports. BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 price objective (up previously from $33.00) on shares of Pfizer in a report on Thursday. Guggenheim assumed coverage on Pfizer in a research note on Friday, February 23rd. They set a “buy” rating and a $36.00 target price for the company. TD Cowen downgraded shares of Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price target for the company. in a research note on Thursday, January 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Monday, April 15th. Finally, Argus downgraded Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $36.53.

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.