Lifestyle Asset Management Inc. Trims Stock Holdings in Pfizer Inc. (NYSE:PFE)

by · The Cerbat Gem

Lifestyle Asset Management Inc. trimmed its position in Pfizer Inc. (NYSE:PFE – Free Report) by 78.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,137 shares of the biopharmaceutical company’s stock after selling 22,434 shares during the period. Lifestyle Asset Management Inc.’s holdings in Pfizer were worth $204,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PFE. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Pfizer by 98,197.9% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,948,438,709 shares of the biopharmaceutical company’s stock worth $71,468,732,000 after acquiring an additional 1,946,456,532 shares in the last quarter. BlackRock Inc. boosted its holdings in Pfizer by 0.6% in the first quarter. BlackRock Inc. now owns 445,384,893 shares of the biopharmaceutical company’s stock worth $18,171,704,000 after acquiring an additional 2,516,132 shares in the last quarter. State Street Corp boosted its holdings in Pfizer by 1.9% in the second quarter. State Street Corp now owns 287,201,692 shares of the biopharmaceutical company’s stock worth $10,534,558,000 after acquiring an additional 5,374,611 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Pfizer by 9.8% in the first quarter. Wellington Management Group LLP now owns 218,931,933 shares of the biopharmaceutical company’s stock worth $8,932,423,000 after acquiring an additional 19,602,359 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its holdings in Pfizer by 89,592.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 161,143,638 shares of the biopharmaceutical company’s stock worth $8,257,000,000 after acquiring an additional 160,963,976 shares in the last quarter. 68.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PFE shares. BMO Capital Markets lowered their price target on Pfizer from $44.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, October 16th. Truist Financial lowered their price target on Pfizer from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday. StockNews.com started coverage on Pfizer in a report on Thursday, October 5th. They set a “hold” rating on the stock. TheStreet downgraded Pfizer from a “b-” rating to a “c+” rating in a report on Monday, September 25th. Finally, Barclays lowered their price target on Pfizer from $34.00 to $28.00 and set an “equal weight” rating on the stock in a report on Thursday. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $40.35.

Read Our Latest Stock Report on PFE

Pfizer Stock Performance

NYSE:PFE opened at $26.14 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.05 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 12-month low of $25.76 and a 12-month high of $54.43. The stock has a 50-day moving average price of $30.39 and a 200 day moving average price of $34.13. The stock has a market capitalization of $147.60 billion, a P/E ratio of 14.28, a P/E/G ratio of 1.72 and a beta of 0.61.

Pfizer (NYSE:PFE – Get Free Report) last announced its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.15. Pfizer had a return on equity of 16.72% and a net margin of 15.30%. The company had revenue of $13.23 billion during the quarter, compared to analyst estimates of $13.77 billion. Equities research analysts forecast that Pfizer Inc. will post 1.55 EPS for the current fiscal year.

Pfizer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, January 26th will be paid a dividend of $0.42 per share. This is a positive change from Pfizer’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a yield of 6.43%. Pfizer’s dividend payout ratio is presently 89.62%.

Pfizer Profile

(Free Report)

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, 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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