CIBC Private Wealth Group LLC Sells 2,522,877 Shares of Pfizer Inc. (NYSE:PFE)

CIBC Private Wealth Group LLC lessened its stake in shares of Pfizer Inc. (NYSE:PFEFree Report) by 65.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,361,297 shares of the biopharmaceutical company’s stock after selling 2,522,877 shares during the period. CIBC Private Wealth Group LLC’s holdings in Pfizer were worth $39,192,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. VisionPoint Advisory Group LLC raised 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 acquiring an additional 1,047 shares during the last quarter. GoalVest Advisory LLC grew its holdings in Pfizer by 304.9% during the fourth quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 811 shares during the period. Tennessee Valley Asset Management Partners bought a new position in shares of Pfizer during the 4th quarter worth $36,000. DiNuzzo Private Wealth Inc. bought a new position in Pfizer in the 4th quarter valued at $37,000. Finally, Life Planning Partners Inc purchased a new stake in shares of Pfizer in the fourth quarter worth $39,000. 68.36% of the stock is owned by institutional investors.

Pfizer Stock Up 0.6 %

Shares of PFE stock opened at $29.49 on Wednesday. The business’s fifty day moving average is $27.43 and its 200 day moving average is $27.87. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $40.37.

Pfizer (NYSE:PFEGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The company had revenue of $14.88 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. Pfizer’s revenue was down 19.5% on a year-over-year basis. During the same period last year, the company posted $1.23 EPS. As a group, sell-side analysts predict that Pfizer Inc. will post 2.38 EPS for the current fiscal year.

Pfizer Announces Dividend

The business 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. This represents a $1.68 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Monday, April 15th. Morgan Stanley boosted their price objective on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. BMO Capital Markets reaffirmed 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. Finally, Guggenheim started coverage on shares of Pfizer in a research report on Friday, February 23rd. They issued a “buy” rating and a $36.00 target price on the stock. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $35.86.

View Our Latest Research Report on Pfizer

Pfizer Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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