Bank of Marin Cuts Holdings in Pfizer Inc. (NYSE:PFE)

Bank of Marin decreased its position in Pfizer Inc. (NYSE:PFEGet Rating) by 28.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,315 shares of the biopharmaceutical company’s stock after selling 6,937 shares during the period. Bank of Marin’s holdings in Pfizer were worth $896,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank OZK boosted its position in shares of Pfizer by 0.3% during the 4th quarter. Bank OZK now owns 68,883 shares of the biopharmaceutical company’s stock valued at $4,067,000 after purchasing an additional 195 shares in the last quarter. Winfield Associates Inc. grew its holdings in Pfizer by 0.9% during the fourth quarter. Winfield Associates Inc. now owns 21,557 shares of the biopharmaceutical company’s stock valued at $1,273,000 after purchasing an additional 200 shares during the period. Birinyi Associates Inc. boosted its holdings in shares of Pfizer by 3.4% in the first quarter. Birinyi Associates Inc. now owns 6,000 shares of the biopharmaceutical company’s stock worth $311,000 after acquiring an additional 200 shares during the period. Curbstone Financial Management Corp raised its position in shares of Pfizer by 0.3% in the first quarter. Curbstone Financial Management Corp now owns 65,901 shares of the biopharmaceutical company’s stock worth $3,412,000 after buying an additional 200 shares in the last quarter. Finally, WFA of San Diego LLC raised its position in Pfizer by 3.3% during the fourth quarter. WFA of San Diego LLC now owns 6,345 shares of the biopharmaceutical company’s stock valued at $375,000 after purchasing an additional 201 shares in the last quarter. Hedge funds and other institutional investors own 66.50% of the company’s stock.

Pfizer Stock Performance

Pfizer stock traded down $0.41 during trading hours on Monday, reaching $49.70. 376,977 shares of the stock were exchanged, compared to its average volume of 27,205,676. The firm’s 50 day moving average is $50.74 and its 200 day moving average is $50.95. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.20 and a current ratio of 1.42. The stock has a market cap of $278.86 billion, a P/E ratio of 9.81, a P/E/G ratio of 0.61 and a beta of 0.67. Pfizer Inc. has a 52-week low of $40.94 and a 52-week high of $61.71.

Pfizer (NYSE:PFEGet Rating) last posted its earnings results on Thursday, July 28th. The biopharmaceutical company reported $2.04 earnings per share 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 firm had revenue of $27.74 billion during the quarter, compared to the consensus estimate of $26.20 billion. During the same period last year, the firm posted $1.07 EPS. The firm’s revenue for the quarter was up 46.8% on a year-over-year basis. Analysts predict that Pfizer Inc. will post 6.54 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 6th. Investors of record on Wednesday, June 29th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.22%. Pfizer’s dividend payout ratio (DPR) is presently 31.31%.

Analysts Set New Price Targets

Several analysts have weighed in on PFE shares. Barclays lifted their price objective on Pfizer to $52.00 in a research report on Tuesday, August 9th. The Goldman Sachs Group set a $50.00 price objective on shares of Pfizer in a report on Friday, July 29th. StockNews.com upgraded shares of Pfizer from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 19th. JPMorgan Chase & Co. set a $57.00 target price on shares of Pfizer in a research report on Tuesday, June 28th. Finally, SVB Leerink lowered their target price on shares of Pfizer from $55.00 to $53.00 and set a “market perform” rating for the company in a research note on Friday, July 29th. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and an average target price of $57.50.

Insiders Place Their Bets

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

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.

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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