Evercore Wealth Management LLC Decreases Stake in Pfizer Inc. (NYSE:PFE)

Evercore Wealth Management LLC lessened its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 17.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 143,736 shares of the biopharmaceutical company's stock after selling 29,647 shares during the quarter. Evercore Wealth Management LLC's holdings in Pfizer were worth $3,813,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PFE. Norges Bank purchased a new stake in shares of Pfizer in the 4th quarter worth about $2,328,986,000. Charles Schwab Investment Management Inc. increased its stake in Pfizer by 19.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company's stock valued at $4,124,330,000 after purchasing an additional 25,315,159 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Pfizer during the 4th quarter worth about $274,694,000. Massachusetts Financial Services Co. MA grew its stake in shares of Pfizer by 7.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock valued at $2,029,604,000 after buying an additional 5,350,381 shares during the period. Finally, APG Asset Management N.V. increased its position in Pfizer by 1,106.0% during the 4th quarter. APG Asset Management N.V. now owns 5,619,213 shares of the biopharmaceutical company's stock worth $143,967,000 after purchasing an additional 5,153,257 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company's stock.

Pfizer Stock Down 0.7 %

Shares of Pfizer stock opened at $22.38 on Thursday. 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 Inc. has a 12-month low of $20.92 and a 12-month high of $31.54. The firm has a market capitalization of $126.93 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 0.64 and a beta of 0.67. The stock's fifty day moving average is $24.69 and its 200-day moving average is $26.06.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.15. The company had revenue of $17.76 billion during the quarter, compared to analyst estimates of $17.26 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business's quarterly revenue was up 24.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 earnings per share. Equities analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 9th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 7.69%. Pfizer's dividend payout ratio (DPR) is presently 121.99%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a report on Monday, March 10th. Guggenheim reaffirmed a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. UBS Group lowered their price target on shares of Pfizer from $28.00 to $24.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Cantor Fitzgerald began coverage on shares of Pfizer in a research report on Tuesday. They issued a "neutral" rating and a $24.00 price objective on the stock. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $25.00 price target (down previously from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $29.57.

Insider Activity

In other Pfizer news, Director Ronald E. Blaylock acquired 19,457 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was purchased at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the transaction, the director now owns 27,707 shares of the company's stock, valued at $710,684.55. The trade was a 235.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

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.

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