Twin Capital Management Inc. Cuts Position in Pfizer Inc. (NYSE:PFE)

Twin Capital Management Inc. lessened its holdings in Pfizer Inc. (NYSE:PFE) by 84.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,892 shares of the biopharmaceutical company’s stock after selling 110,861 shares during the period. Twin Capital Management Inc.’s holdings in Pfizer were worth $580,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Creekmur Asset Management LLC purchased a new position in shares of Pfizer in the 4th quarter worth approximately $32,000. Trivant Custom Portfolio Group LLC lifted its stake in Pfizer by 100.0% in the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 600 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new position in Pfizer in the fourth quarter valued at approximately $36,000. DiNuzzo Private Wealth Inc. purchased a new position in Pfizer in the fourth quarter valued at approximately $37,000. Finally, ESL Trust Services LLC purchased a new position in Pfizer in the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of Pfizer stock traded up $0.48 during trading on Wednesday, hitting $29.99. The stock had a trading volume of 29,558,385 shares, compared to its average volume of 39,723,523. The firm has a market cap of $169.91 billion, a price-to-earnings ratio of -499.67, a P/E/G ratio of 1.16 and a beta of 0.69. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $37.72. The business’s 50-day moving average is $28.47 and its 200 day moving average is $27.75. The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66.

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

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 5.60%. Pfizer’s payout ratio is -2,799.53%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Wednesday, July 10th. Barclays upped their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 10th. Morgan Stanley upped their price objective on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Finally, BMO Capital Markets reissued an “outperform” rating and set a $36.00 target price (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $34.50.

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.