Northcape Wealth Management LLC Reduces Stock Holdings in Pfizer Inc. (NYSE:PFE)

Northcape Wealth Management LLC reduced its stake in shares of Pfizer Inc. (NYSE:PFE) by 19.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,278 shares of the biopharmaceutical company’s stock after selling 6,378 shares during the quarter. Northcape Wealth Management LLC’s holdings in Pfizer were worth $785,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of PFE. Bfsg LLC grew its position in shares of Pfizer by 5.9% in the 3rd quarter. Bfsg LLC now owns 168,804 shares of the biopharmaceutical company’s stock worth $5,599,000 after acquiring an additional 9,442 shares in the last quarter. Schmidt P J Investment Management Inc. grew its holdings in shares of Pfizer by 7.0% in the 3rd quarter. Schmidt P J Investment Management Inc. now owns 10,286 shares of the biopharmaceutical company’s stock worth $321,000 after acquiring an additional 677 shares during the last quarter. Ascent Wealth Partners LLC raised its position in Pfizer by 2.5% during the third quarter. Ascent Wealth Partners LLC now owns 42,699 shares of the biopharmaceutical company’s stock valued at $1,416,000 after buying an additional 1,040 shares during the period. Avestar Capital LLC raised its position in Pfizer by 3.7% during the third quarter. Avestar Capital LLC now owns 17,160 shares of the biopharmaceutical company’s stock valued at $569,000 after buying an additional 606 shares during the period. Finally, Lake Street Financial LLC raised its position in Pfizer by 22.3% during the third quarter. Lake Street Financial LLC now owns 55,021 shares of the biopharmaceutical company’s stock valued at $1,766,000 after buying an additional 10,047 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Pfizer Stock Performance

NYSE:PFE traded down $0.03 during mid-day trading on Tuesday, hitting $25.61. 37,889,007 shares of the company’s stock traded hands, compared to its average volume of 41,962,758. The firm has a 50 day moving average of $26.92 and a two-hundred day moving average of $28.31. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $40.37. The firm has a market capitalization of $145.02 billion, a price-to-earnings ratio of 71.50, a price-to-earnings-growth ratio of 1.14 and a beta of 0.61.

Pfizer (NYSE:PFE) last announced its quarterly earnings data 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 return on equity of 10.88% and a net margin of 3.62%. The company had revenue of $14.25 billion during the quarter, compared to the consensus estimate of $14.37 billion. During the same quarter last year, the company earned $1.14 EPS. The company’s quarterly revenue was down 41.3% on a year-over-year basis. On average, equities analysts forecast that Pfizer Inc. will post 2.24 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.56%. Pfizer’s payout ratio is presently 466.67%.

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.