Dakota Wealth Management Trims Holdings in Pfizer Inc. (NYSE:PFE)

Dakota Wealth Management trimmed its position in Pfizer Inc. (NYSE:PFE) by 4.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 276,726 shares of the biopharmaceutical company’s stock after selling 11,912 shares during the quarter. Dakota Wealth Management’s holdings in Pfizer were worth $7,012,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Pfizer by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 518,535,151 shares of the biopharmaceutical company’s stock worth $13,756,738,000 after purchasing an additional 2,285,276 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Pfizer by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 120,589,782 shares of the biopharmaceutical company’s stock worth $3,190,131,000 after purchasing an additional 2,923,537 shares in the last quarter. Norges Bank purchased a new position in Pfizer in the 4th quarter worth approximately $2,328,986,000. Massachusetts Financial Services Co. MA lifted its holdings in Pfizer by 7.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company’s stock worth $2,029,604,000 after purchasing an additional 5,350,381 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Pfizer by 7.7% in the 4th quarter. Northern Trust Corp now owns 58,382,560 shares of the biopharmaceutical company’s stock worth $1,548,889,000 after purchasing an additional 4,167,222 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Performance

NYSE PFE opened at $25.65 on Monday. The business’s 50 day moving average price is $23.89 and its 200-day moving average price is $24.78. The company has a market cap of $145.83 billion, a P/E ratio of 18.59, a P/E/G ratio of 0.93 and a beta of 0.58. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 1.26. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $31.54.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.25. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. The business had revenue of $13.72 billion for the quarter, compared to analyst estimates of $14.43 billion. During the same quarter last year, the firm posted $0.82 earnings per share. The business’s revenue was down 7.8% compared to the same quarter last year. Sell-side analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be paid a $0.43 dividend. The ex-dividend date is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a yield of 6.71%. Pfizer’s payout ratio is 124.64%.

Analyst Ratings Changes

A number of research firms recently commented on PFE. BMO Capital Markets lowered their price target on Pfizer from $36.00 to $30.00 in a report on Thursday, April 17th. Cantor Fitzgerald initiated coverage on Pfizer in a report on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 price objective on the stock. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. Jefferies Financial Group upped their price objective on Pfizer from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, May 21st. Finally, Leerink Partners decreased their price objective on Pfizer from $28.00 to $26.00 and set a “market perform” rating on the stock in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pfizer has a consensus rating of “Hold” and a consensus target price of $28.55.

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.