Veracity Capital LLC Trims Stock Position in Pfizer Inc. (NYSE:PFE)

Veracity Capital LLC lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 24.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 7,425 shares of the biopharmaceutical company’s stock after selling 2,461 shares during the period. Veracity Capital LLC’s holdings in Pfizer were worth $206,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PFE. Norges Bank purchased a new position in shares of Pfizer in the 4th quarter valued at about $2,129,927,000. Wellington Management Group LLP boosted its holdings in Pfizer by 4.9% in the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after buying an additional 11,099,024 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Pfizer by 8.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock worth $2,985,783,000 after buying an additional 8,473,686 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Pfizer by 13.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after buying an additional 8,298,920 shares during the last quarter. Finally, Ruffer LLP boosted its holdings in Pfizer by 248.7% in the 4th quarter. Ruffer LLP now owns 5,796,012 shares of the biopharmaceutical company’s stock worth $166,837,000 after buying an additional 4,133,786 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Up 0.3 %

Shares of NYSE PFE opened at $27.77 on Friday. The firm has a market cap of $157.36 billion, a price-to-earnings ratio of -461.59, a PEG ratio of 1.09 and a beta of 0.69. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $37.80. The business’s 50 day moving average is $28.04 and its two-hundred day moving average is $27.71.

Pfizer (NYSE:PFE) last announced its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The company had revenue of $14.88 billion for the quarter, compared to analyst estimates of $13.87 billion. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The firm’s quarterly revenue was down 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.23 earnings per share. Research analysts predict that Pfizer Inc. will post 2.38 EPS for the current year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date of this dividend is Thursday, July 25th. Pfizer’s dividend payout ratio is currently -2,799.53%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PFE shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Wednesday, June 26th. Morgan Stanley lifted their price objective on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Argus cut Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Finally, BMO Capital Markets restated an “outperform” rating and set a $36.00 target price (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Pfizer currently has a consensus rating of “Hold” and a consensus target price of $35.54.

Pfizer 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.