Auxier Asset Management Cuts Position in Pfizer Inc. (NYSE:PFE)

Auxier Asset Management reduced its stake in shares of Pfizer Inc. (NYSE:PFE) by 4.0% in the fourth quarter, HoldingsChannel reports. The firm owned 65,528 shares of the biopharmaceutical company’s stock after selling 2,725 shares during the period. Auxier Asset Management’s holdings in Pfizer were worth $1,738,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PFE. Parsons Capital Management Inc. RI boosted its holdings in shares of Pfizer by 118.7% in the 4th quarter. Parsons Capital Management Inc. RI now owns 294,764 shares of the biopharmaceutical company’s stock valued at $7,820,000 after buying an additional 159,984 shares in the last quarter. Mcdonald Partners LLC lifted its position in Pfizer by 9.9% during the fourth quarter. Mcdonald Partners LLC now owns 110,296 shares of the biopharmaceutical company’s stock valued at $2,926,000 after acquiring an additional 9,963 shares during the last quarter. Bank of Jackson Hole Trust acquired a new stake in Pfizer in the fourth quarter valued at approximately $264,000. Harvey Capital Management Inc. purchased a new position in Pfizer in the fourth quarter worth $544,000. Finally, ING Groep NV increased its position in shares of Pfizer by 48.6% during the fourth quarter. ING Groep NV now owns 1,013,230 shares of the biopharmaceutical company’s stock worth $26,881,000 after purchasing an additional 331,403 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Stock Up 1.3%

Shares of PFE opened at $23.33 on Friday. The company has a market capitalization of $132.66 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 0.64 and a beta of 0.58. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $31.54. The stock’s 50-day moving average price is $23.38 and its 200-day moving average price is $25.19. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.25. The company had revenue of $13.72 billion during the quarter, compared to the consensus estimate of $14.43 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. Pfizer’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.82 earnings per share. On average, sell-side analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be issued a $0.43 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a yield of 7.37%. Pfizer’s payout ratio is 124.64%.

Wall Street Analysts Forecast Growth

PFE has been the topic of several research analyst reports. Citigroup restated a “neutral” rating on shares of Pfizer in a research note on Thursday, March 27th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $25.00 target price (down from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. Cantor Fitzgerald started coverage on shares of Pfizer in a research note on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 price objective for the company. Finally, Guggenheim reissued a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Pfizer has an average rating of “Moderate Buy” and a consensus target price of $29.17.

About Pfizer

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.