Pfizer Inc. (NYSE:PFE) Stock Position Reduced by New York Life Investment Management LLC

New York Life Investment Management LLC decreased its stake in Pfizer Inc. (NYSE:PFE) by 6.7% during the 4th quarter, HoldingsChannel reports. The firm owned 824,210 shares of the biopharmaceutical company’s stock after selling 59,492 shares during the period. New York Life Investment Management LLC’s holdings in Pfizer were worth $23,729,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in PFE. Briaud Financial Planning Inc bought a new stake in shares of Pfizer in the 3rd quarter worth approximately $30,000. GoalVest Advisory LLC lifted its holdings in shares of Pfizer by 304.9% in the 4th quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 811 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new stake in shares of Pfizer in the 3rd quarter worth approximately $34,000. VisionPoint Advisory Group LLC lifted its holdings in shares of Pfizer by 52,350.0% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,049 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of Pfizer in the 4th quarter worth approximately $36,000. Institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

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

Pfizer Stock Up 6.1 %

Shares of Pfizer stock traded up $1.56 during midday trading on Wednesday, hitting $27.18. The company’s stock had a trading volume of 87,843,828 shares, compared to its average volume of 42,510,992. The firm has a market capitalization of $153.91 billion, a P/E ratio of 75.67, a PEG ratio of 1.16 and a beta of 0.61. The stock has a 50-day simple moving average of $26.88 and a 200-day simple moving average of $28.26. 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 Inc. has a 1-year low of $25.20 and a 1-year high of $40.37.

Pfizer (NYSE:PFE) last issued its 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 business had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.37 billion. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. Pfizer’s revenue was down 41.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 earnings per share. As a group, sell-side analysts expect that Pfizer Inc. will post 2.24 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.68 dividend on an annualized basis and a yield of 6.18%. Pfizer’s payout ratio is 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.