Pfizer Inc. (NYSE:PFE) Shares Sold by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management cut its position in Pfizer Inc. (NYSE:PFE) by 6.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,139 shares of the biopharmaceutical company’s stock after selling 3,264 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Pfizer were worth $1,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in PFE. Apollon Wealth Management LLC boosted its position in Pfizer by 4.7% during the fourth quarter. Apollon Wealth Management LLC now owns 188,601 shares of the biopharmaceutical company’s stock worth $5,430,000 after acquiring an additional 8,457 shares during the last quarter. Maryland State Retirement & Pension System increased its position in shares of Pfizer by 1.1% during the fourth quarter. Maryland State Retirement & Pension System now owns 439,910 shares of the biopharmaceutical company’s stock worth $12,665,000 after acquiring an additional 4,682 shares during the period. MeadowBrook Investment Advisors LLC acquired a new stake in shares of Pfizer in the fourth quarter valued at $442,000. Clifford Swan Investment Counsel LLC boosted its holdings in Pfizer by 4.7% in the fourth quarter. Clifford Swan Investment Counsel LLC now owns 417,070 shares of the biopharmaceutical company’s stock valued at $12,007,000 after purchasing an additional 18,611 shares during the period. Finally, Metis Global Partners LLC increased its holdings in Pfizer by 16.0% during the 4th quarter. Metis Global Partners LLC now owns 304,749 shares of the biopharmaceutical company’s stock worth $8,774,000 after purchasing an additional 42,083 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Stock Up 1.0 %

Shares of PFE stock traded up $0.29 during trading hours on Wednesday, hitting $28.06. 10,097,519 shares of the company were exchanged, compared to its average volume of 43,208,602. The stock has a market capitalization of $158.89 billion, a price-to-earnings ratio of -466.42, a P/E/G ratio of 1.17 and a beta of 0.63. The business’s 50-day simple moving average is $26.92 and its two-hundred day simple moving average is $28.12. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.91. Pfizer Inc. has a one year low of $25.20 and a one year high of $40.37.

Pfizer (NYSE:PFE) last issued its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 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 the consensus estimate of $13.87 billion. Pfizer had a positive return on equity of 8.58% and a negative net margin of 0.56%. Pfizer’s quarterly revenue was down 19.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 earnings per share. Sell-side analysts predict that Pfizer Inc. will post 2.39 EPS for the current fiscal year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.99%. Pfizer’s dividend payout ratio is currently -2,799.53%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PFE shares. Morgan Stanley boosted their price objective on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 price target (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Monday, April 15th. Finally, Guggenheim initiated coverage on Pfizer in a report on Friday, February 23rd. They issued a “buy” rating and a $36.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $36.00.

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.