Hemenway Trust Co LLC Sells 1,275 Shares of Pfizer Inc. (NYSE:PFE)

Hemenway Trust Co LLC reduced its stake in shares of Pfizer Inc. (NYSE:PFE) by 5.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,725 shares of the biopharmaceutical company’s stock after selling 1,275 shares during the quarter. Hemenway Trust Co LLC’s holdings in Pfizer were worth $575,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Clifford Swan Investment Counsel LLC boosted its stake 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 acquiring an additional 18,611 shares during the last quarter. LifePlan Financial LLC bought a new position in Pfizer in the fourth quarter valued at approximately $255,000. Cantor Fitzgerald Investment Advisors L.P. bought a new position in Pfizer in the fourth quarter valued at approximately $16,166,000. KLCM Advisors Inc. boosted its stake in Pfizer by 75.0% in the fourth quarter. KLCM Advisors Inc. now owns 173,793 shares of the biopharmaceutical company’s stock valued at $5,004,000 after acquiring an additional 74,487 shares during the last quarter. Finally, Farmers Trust Co. boosted its stake in Pfizer by 2.0% in the fourth quarter. Farmers Trust Co. now owns 225,881 shares of the biopharmaceutical company’s stock valued at $6,503,000 after acquiring an additional 4,410 shares during the last quarter. 68.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PFE has been the topic of a number of recent research reports. Morgan Stanley raised their price objective on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday. BMO Capital Markets reissued an “outperform” rating and set a $36.00 price target (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Finally, Barclays raised their price objective on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $35.69.

Pfizer Stock Performance

Shares of PFE traded up $0.31 during midday trading on Thursday, reaching $28.66. The stock had a trading volume of 46,615,024 shares, compared to its average volume of 40,098,180. The firm has a 50 day simple moving average of $28.23 and a 200-day simple moving average of $27.72. Pfizer Inc. has a one year low of $25.20 and a one year high of $37.80. The firm has a market cap of $162.40 billion, a PE ratio of -477.59, a P/E/G ratio of 1.10 and a beta of 0.69. The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66.

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

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.86%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s payout ratio is -2,799.53%.

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.