Principle Wealth Partners LLC Sells 65,121 Shares of Pfizer Inc. (NYSE:PFE)

Principle Wealth Partners LLC reduced its position in Pfizer Inc. (NYSE:PFE) by 18.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 290,228 shares of the biopharmaceutical company’s stock after selling 65,121 shares during the quarter. Principle Wealth Partners LLC’s holdings in Pfizer were worth $8,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of PFE. Charles Schwab Investment Management Inc. boosted its position in shares of Pfizer by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock worth $3,161,261,000 after acquiring an additional 9,393,992 shares during the last quarter. Invesco Ltd. boosted its position in shares of Pfizer by 30.9% during the third quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock worth $797,901,000 after acquiring an additional 5,678,004 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Pfizer by 9.4% during the third 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 last quarter. Bank of Nova Scotia boosted its position in shares of Pfizer by 219.4% during the third quarter. Bank of Nova Scotia now owns 5,503,983 shares of the biopharmaceutical company’s stock worth $182,567,000 after acquiring an additional 3,780,696 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in Pfizer by 38.9% during the third quarter. Canada Pension Plan Investment Board now owns 10,028,940 shares of the biopharmaceutical company’s stock valued at $332,660,000 after purchasing an additional 2,807,846 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors.

Pfizer Trading Up 0.6 %

PFE stock traded up $0.14 during trading on Friday, hitting $25.40. The company had a trading volume of 46,526,457 shares, compared to its average volume of 34,120,812. The firm has a market capitalization of $143.83 billion, a P/E ratio of 70.56, a PEG ratio of 1.14 and a beta of 0.61. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $40.37. The company has a 50 day simple moving average of $26.96 and a 200-day simple moving average of $28.39. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.19) by $0.29. The company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.37 billion. Pfizer had a net margin of 3.62% and a return on equity of 10.88%. The firm’s revenue was down 41.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 EPS. As a group, research analysts forecast that Pfizer Inc. will post 2.24 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

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

Wall Street Analyst Weigh In

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

Pfizer Company 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.