Reynders McVeigh Capital Management LLC Reduces Stock Position in Pfizer Inc. (NYSE:PFE)

Reynders McVeigh Capital Management LLC decreased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 24.9% during the fourth quarter, HoldingsChannel reports. The fund owned 21,751 shares of the biopharmaceutical company’s stock after selling 7,209 shares during the quarter. Reynders McVeigh Capital Management LLC’s holdings in Pfizer were worth $626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PFE. Charles Schwab Investment Management Inc. grew its holdings in Pfizer by 8.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock valued at $2,985,783,000 after buying an additional 8,473,686 shares in the last quarter. Morgan Stanley grew its stake in Pfizer by 0.4% during the third quarter. Morgan Stanley now owns 84,927,802 shares of the biopharmaceutical company’s stock valued at $2,817,055,000 after acquiring an additional 348,628 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Pfizer by 9.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 60,207,521 shares of the biopharmaceutical company’s stock worth $1,997,083,000 after acquiring an additional 5,185,453 shares during the period. Invesco Ltd. lifted its stake in Pfizer by 30.9% in the 3rd quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock worth $797,901,000 after purchasing an additional 5,678,004 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Pfizer by 0.6% in the 3rd quarter. California Public Employees Retirement System now owns 18,380,833 shares of the biopharmaceutical company’s stock valued at $609,692,000 after purchasing an additional 101,256 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Down 0.6 %

Shares of NYSE:PFE opened at $28.01 on Friday. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $40.37. The company has a current ratio of 1.05, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The stock’s 50-day moving average price is $27.00 and its 200-day moving average price is $28.10. The stock has a market capitalization of $158.72 billion, a P/E ratio of -466.83, a price-to-earnings-growth ratio of 1.18 and a beta of 0.63.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The business had revenue of $14.88 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same period in the previous year, the firm earned $1.23 EPS. The business’s quarterly revenue was down 19.5% on a year-over-year basis. On average, equities analysts anticipate that Pfizer Inc. will post 2.39 earnings per share for the current year.

Pfizer Dividend Announcement

The company 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 $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date is Thursday, May 9th. Pfizer’s dividend payout ratio (DPR) is presently -2,800.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PFE shares. Morgan Stanley increased their price objective on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Guggenheim started coverage on Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Monday, April 15th. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $36.00 price target (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $35.86.

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.