Pfizer Inc. (NYSE:PFE) Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC decreased its position in shares of Pfizer Inc. (NYSE:PFE) by 35.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,346 shares of the biopharmaceutical company’s stock after selling 7,781 shares during the quarter. Convergence Investment Partners LLC’s holdings in Pfizer were worth $413,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PFE. Trifecta Capital Advisors LLC increased its holdings in shares of Pfizer by 3.7% during the 3rd quarter. Trifecta Capital Advisors LLC now owns 9,197 shares of the biopharmaceutical company’s stock worth $305,000 after buying an additional 325 shares during the last quarter. Confluence Wealth Services Inc. lifted its position in shares of Pfizer by 0.5% during the third quarter. Confluence Wealth Services Inc. now owns 65,053 shares of the biopharmaceutical company’s stock worth $2,158,000 after purchasing an additional 342 shares in the last quarter. Carr Financial Group Corp grew its holdings in Pfizer by 3.3% during the 3rd quarter. Carr Financial Group Corp now owns 11,012 shares of the biopharmaceutical company’s stock valued at $344,000 after purchasing an additional 355 shares in the last quarter. Caldwell Sutter Capital Inc. lifted its holdings in Pfizer by 0.5% in the 3rd quarter. Caldwell Sutter Capital Inc. now owns 69,794 shares of the biopharmaceutical company’s stock worth $2,315,000 after buying an additional 364 shares in the last quarter. Finally, Bill Few Associates Inc. boosted its position in Pfizer by 0.5% in the 3rd quarter. Bill Few Associates Inc. now owns 80,820 shares of the biopharmaceutical company’s stock valued at $2,681,000 after buying an additional 368 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Price Performance

NYSE PFE opened at $25.40 on Monday. The company has a 50 day simple moving average of $26.96 and a 200-day simple moving average of $28.36. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $40.37. The firm has a market capitalization of $143.83 billion, a price-to-earnings ratio of 70.56, a price-to-earnings-growth ratio of 1.14 and a beta of 0.61. 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 (NYSE:PFE) last announced its quarterly earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.19) by $0.29. The business had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.37 billion. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. The firm’s quarterly revenue was down 41.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.14 EPS. Equities research analysts predict that Pfizer Inc. will post 2.24 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.42 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.68 annualized dividend and a yield of 6.61%. Pfizer’s dividend payout ratio (DPR) is presently 466.67%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Argus downgraded Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Guggenheim assumed coverage on shares of Pfizer in a research report on Friday, February 23rd. They issued a “buy” rating and a $36.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Monday, April 15th. Finally, TD Cowen downgraded shares of Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price objective for the company. in a report on Thursday, January 4th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $36.33.

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.