Itau Unibanco Holding S.A. Trims Stake in Pfizer Inc. (NYSE:PFE)

Itau Unibanco Holding S.A. decreased its position in shares of Pfizer Inc. (NYSE:PFE) by 59.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,993 shares of the biopharmaceutical company’s stock after selling 5,893 shares during the period. Itau Unibanco Holding S.A.’s holdings in Pfizer were worth $163,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. BancFirst Trust & Investment Management lifted its position in shares of Pfizer by 2.3% in the first quarter. BancFirst Trust & Investment Management now owns 17,794 shares of the biopharmaceutical company’s stock worth $719,000 after buying an additional 398 shares in the last quarter. Strategic Investment Advisors MI boosted its stake in shares of Pfizer by 32.1% during the first quarter. Strategic Investment Advisors MI now owns 94,117 shares of the biopharmaceutical company’s stock valued at $3,840,000 after purchasing an additional 22,879 shares during the period. State of Michigan Retirement System boosted its position in Pfizer by 0.9% in the 1st quarter. State of Michigan Retirement System now owns 1,771,584 shares of the biopharmaceutical company’s stock valued at $72,281,000 after buying an additional 15,900 shares during the period. MainStreet Investment Advisors LLC grew its stake in Pfizer by 1.6% in the first quarter. MainStreet Investment Advisors LLC now owns 197,477 shares of the biopharmaceutical company’s stock worth $8,057,000 after purchasing an additional 3,099 shares in the last quarter. Finally, Center For Asset Management LLC increased its stake in shares of Pfizer by 28.0% during the first quarter. Center For Asset Management LLC now owns 23,894 shares of the biopharmaceutical company’s stock valued at $975,000 after buying an additional 5,228 shares during the period. Hedge funds and other institutional investors own 68.05% of the company’s stock.

Pfizer Stock Up 1.2 %

PFE stock opened at $35.79 on Friday. Pfizer Inc. has a one year low of $34.65 and a one year high of $54.93. The firm has a market cap of $202.07 billion, a PE ratio of 9.52, a PEG ratio of 1.21 and a beta of 0.60. The firm’s 50 day moving average price is $36.18 and its 200-day moving average price is $38.56. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.82 and a current ratio of 2.12.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. The company had revenue of $12.73 billion during the quarter, compared to analysts’ expectations of $13.36 billion. Pfizer had a return on equity of 28.36% and a net margin of 27.55%. The firm’s quarterly revenue was down 54.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.04 earnings per share. On average, equities research analysts anticipate that Pfizer Inc. will post 3.33 EPS for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, July 28th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date is Thursday, July 27th. Pfizer’s dividend payout ratio is presently 43.62%.

Wall Street Analyst Weigh In

PFE has been the topic of several research reports. HSBC assumed coverage on shares of Pfizer in a report on Friday, July 14th. They set a “buy” rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on shares of Pfizer from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Monday, July 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $75.00 price objective on shares of Pfizer in a report on Wednesday. Morgan Stanley cut their price objective on shares of Pfizer from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 2nd. Finally, BMO Capital Markets reduced their price target on Pfizer from $45.00 to $44.00 and set an “outperform” rating for the company in a research report on Wednesday, August 2nd. Twelve analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $46.35.

Pfizer Profile

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.