Rench Wealth Management Inc. Reduces Stock Position in Pfizer Inc. (NYSE:PFE)

Rench Wealth Management Inc. lessened its stake in shares of Pfizer Inc. (NYSE:PFEGet Rating) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 123,123 shares of the biopharmaceutical company’s stock after selling 910 shares during the quarter. Pfizer accounts for about 3.3% of Rench Wealth Management Inc.’s portfolio, making the stock its 13th biggest position. Rench Wealth Management Inc.’s holdings in Pfizer were worth $7,270,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital World Investors boosted its holdings in shares of Pfizer by 0.5% during the 3rd quarter. Capital World Investors now owns 241,360,858 shares of the biopharmaceutical company’s stock valued at $10,381,066,000 after acquiring an additional 1,171,443 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Pfizer by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 101,065,073 shares of the biopharmaceutical company’s stock valued at $5,952,333,000 after acquiring an additional 1,471,980 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Pfizer by 3.4% during the 2nd quarter. Morgan Stanley now owns 47,894,080 shares of the biopharmaceutical company’s stock valued at $1,875,532,000 after acquiring an additional 1,582,052 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Pfizer by 28.8% during the 3rd quarter. Franklin Resources Inc. now owns 45,980,291 shares of the biopharmaceutical company’s stock valued at $1,977,614,000 after acquiring an additional 10,270,562 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of Pfizer by 2.0% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 23,728,801 shares of the biopharmaceutical company’s stock valued at $1,020,576,000 after acquiring an additional 457,513 shares during the last quarter. 66.50% of the stock is currently owned by hedge funds and other institutional investors.

PFE traded up $0.30 during trading on Wednesday, reaching $53.71. 23,404,559 shares of the company traded hands, compared to its average volume of 30,863,920. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.13 and a current ratio of 1.39. Pfizer Inc. has a 12-month low of $38.47 and a 12-month high of $61.71. The firm has a fifty day simple moving average of $51.44 and a 200 day simple moving average of $52.26. The company has a market cap of $301.36 billion, a P/E ratio of 12.32, a PEG ratio of 0.61 and a beta of 0.76.

Pfizer (NYSE:PFEGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The biopharmaceutical company reported $1.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.04). Pfizer had a net margin of 26.97% and a return on equity of 38.29%. The company had revenue of $25.66 billion for the quarter, compared to analysts’ expectations of $24.73 billion. During the same period last year, the business earned $0.93 earnings per share. The company’s quarterly revenue was up 76.8% compared to the same quarter last year. As a group, sell-side analysts expect that Pfizer Inc. will post 6.63 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Friday, May 13th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Thursday, May 12th. Pfizer’s dividend payout ratio (DPR) is currently 36.70%.

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. set a $57.00 price objective on shares of Pfizer in a research note on Tuesday, May 3rd. Morgan Stanley assumed coverage on shares of Pfizer in a research note on Wednesday, April 6th. They issued an “equal weight” rating and a $55.00 price objective on the stock. Mizuho lowered their price objective on shares of Pfizer from $56.00 to $55.00 in a research note on Thursday, February 10th. Berenberg Bank set a $50.00 price objective on shares of Pfizer in a research note on Thursday, May 19th. Finally, Zacks Investment Research cut shares of Pfizer from a “buy” rating to a “hold” rating and set a $52.00 price objective on the stock. in a research note on Tuesday, February 15th. Eleven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $57.00.

In related news, SVP Jennifer B. Damico sold 4,000 shares of the firm’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $50.50, for a total value of $202,000.00. Following the completion of the transaction, the senior vice president now directly owns 15,064 shares of the company’s stock, valued at $760,732. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP William R. Carapezzi, Jr. sold 32,908 shares of the firm’s stock in a transaction on Thursday, May 12th. The shares were sold at an average price of $50.00, for a total transaction of $1,645,400.00. Following the completion of the transaction, the executive vice president now directly owns 38,146 shares of the company’s stock, valued at $1,907,300. The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.

Pfizer Company Profile (Get Rating)

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and women's health under the Premarin family and Eliquis brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines, and oral COVID-19 treatment under the Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga, and Paxlovid brands.

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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