Northcape Wealth Management LLC Sells 6,378 Shares of Pfizer Inc. (NYSE:PFE)

Northcape Wealth Management LLC lowered its holdings in shares of Pfizer Inc. (NYSE:PFE) by 19.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,278 shares of the biopharmaceutical company’s stock after selling 6,378 shares during the period. Northcape Wealth Management LLC’s holdings in Pfizer were worth $785,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in Pfizer by 10.9% in 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 period. Invesco Ltd. raised its position in shares of Pfizer by 30.9% during the 3rd quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock valued at $797,901,000 after purchasing an additional 5,678,004 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of 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 valued at $1,997,083,000 after purchasing an additional 5,185,453 shares during the period. Bank of Nova Scotia raised its position in shares of Pfizer by 219.4% during the 3rd quarter. Bank of Nova Scotia now owns 5,503,983 shares of the biopharmaceutical company’s stock valued at $182,567,000 after purchasing an additional 3,780,696 shares during the period. Finally, Van ECK Associates Corp raised its position in shares of Pfizer by 33.6% during the 4th quarter. Van ECK Associates Corp now owns 12,984,150 shares of the biopharmaceutical company’s stock valued at $373,813,000 after purchasing an additional 3,265,276 shares during the period. Institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PFE shares. Argus cut shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Guggenheim started coverage on shares of Pfizer in a research note on Friday, February 23rd. They set a “buy” rating and a $36.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Monday, April 15th. Finally, TD Cowen cut shares of Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 target price for the company. in a research note on Thursday, January 4th. Eleven investment 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, the company presently has an average rating of “Hold” and a consensus price target of $36.33.

Pfizer Trading Down 0.1 %

Shares of PFE stock traded down $0.03 during trading hours on Tuesday, reaching $25.61. 37,889,007 shares of the stock were exchanged, compared to its average volume of 41,962,758. 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 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. The company’s 50-day moving average price is $26.92 and its 200-day moving average price is $28.31. 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 released its quarterly earnings results 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 net margin of 3.62% and a return on equity of 10.88%. The firm had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.37 billion. During the same period in the previous year, the company earned $1.14 EPS. The firm’s revenue for the quarter was down 41.3% compared to the same quarter last year. As a group, equities analysts anticipate that Pfizer Inc. will post 2.24 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be paid a dividend of $0.42 per share. 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 dividend payout ratio is presently 466.67%.

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.