Massachusetts Wealth Management Cuts Holdings in Pfizer Inc. (NYSE:PFE)

Massachusetts Wealth Management lessened its stake in Pfizer Inc. (NYSE:PFE) by 2.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,398 shares of the biopharmaceutical company’s stock after selling 2,834 shares during the period. Pfizer accounts for approximately 1.5% of Massachusetts Wealth Management’s investment portfolio, making the stock its 20th largest holding. Massachusetts Wealth Management’s holdings in Pfizer were worth $2,478,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. State Street Corp raised its position in shares of Pfizer by 1.2% in the 3rd quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock valued at $8,405,930,000 after purchasing an additional 3,405,539 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Pfizer by 11.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after buying an additional 12,864,343 shares during the last quarter. Geode Capital Management LLC raised its stake in Pfizer by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock worth $3,392,342,000 after acquiring an additional 1,855,419 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Pfizer by 22.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock valued at $1,101,713,000 after purchasing an additional 6,977,587 shares during the period. Finally, Swiss National Bank increased its holdings in Pfizer by 0.6% in the 3rd quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock worth $486,762,000 after buying an additional 100,900 shares during the period. 68.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PFE shares. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Sanford C. Bernstein assumed coverage on Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective on the stock. Bank of America reaffirmed a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a report on Tuesday, December 10th. UBS Group cut their price objective on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, Truist Financial decreased their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Stock Down 1.2 %

Shares of NYSE PFE opened at $25.88 on Wednesday. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. The company has a 50 day simple moving average of $26.27 and a 200-day simple moving average of $27.79. The company has a market capitalization of $146.64 billion, a P/E ratio of 34.97, a P/E/G ratio of 0.66 and a beta of 0.64. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.48 by $0.15. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same period in the prior year, the business posted $0.10 EPS. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. On average, equities research analysts predict that Pfizer Inc. will post 2.96 earnings per share for the current year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 6.65%. Pfizer’s dividend payout ratio is 232.44%.

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.