Central Pacific Bank Trust Division Acquires New Shares in Pfizer Inc. (NYSE:PFE)

Central Pacific Bank Trust Division acquired a new stake in Pfizer Inc. (NYSE:PFE) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 4,906 shares of the biopharmaceutical company’s stock, valued at approximately $136,000.

Several other institutional investors and hedge funds have also modified their holdings of PFE. Norges Bank acquired a new stake in shares of Pfizer in the 4th quarter valued at $2,129,927,000. Wellington Management Group LLP boosted its holdings in Pfizer by 4.9% during the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after acquiring an additional 11,099,024 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Pfizer by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock valued at $2,985,783,000 after acquiring an additional 8,473,686 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Pfizer by 13.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after acquiring an additional 8,298,920 shares during the period. Finally, Ruffer LLP boosted its holdings in Pfizer by 248.7% during the fourth quarter. Ruffer LLP now owns 5,796,012 shares of the biopharmaceutical company’s stock valued at $166,837,000 after acquiring an additional 4,133,786 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of NYSE PFE traded up $0.41 during mid-day trading on Wednesday, hitting $28.13. 5,988,282 shares of the stock were exchanged, compared to its average volume of 39,855,785. The company has a market cap of $159.40 billion, a P/E ratio of -461.84, a PEG ratio of 1.10 and a beta of 0.69. The stock’s fifty day simple moving average is $28.18 and its two-hundred day simple moving average is $27.71. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $37.80.

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

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders 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 5.97%. The ex-dividend date of this dividend is Thursday, July 25th. Pfizer’s payout ratio is -2,799.53%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PFE. Argus cut shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Wednesday, June 26th. BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 target price (up previously from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Finally, Morgan Stanley increased their target price 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. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $35.54.

Pfizer Company 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.