MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 27,000 Shares of Pfizer Inc. (NYSE:PFE)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lessened its position in Pfizer Inc. (NYSE:PFE) by 1.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,052,326 shares of the biopharmaceutical company’s stock after selling 27,000 shares during the quarter. Pfizer accounts for approximately 2.1% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s portfolio, making the stock its 13th largest holding. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Pfizer were worth $56,952,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Advisor OS LLC boosted its holdings in shares of Pfizer by 1.0% during the fourth quarter. Advisor OS LLC now owns 35,202 shares of the biopharmaceutical company’s stock worth $1,013,000 after purchasing an additional 365 shares during the period. Safeguard Investment Advisory Group LLC boosted its holdings in shares of Pfizer by 3.9% during the fourth quarter. Safeguard Investment Advisory Group LLC now owns 9,987 shares of the biopharmaceutical company’s stock worth $288,000 after purchasing an additional 371 shares during the period. Lantz Financial LLC boosted its holdings in shares of Pfizer by 1.3% during the first quarter. Lantz Financial LLC now owns 30,582 shares of the biopharmaceutical company’s stock worth $849,000 after purchasing an additional 381 shares during the period. King Wealth Management Group boosted its holdings in shares of Pfizer by 2.4% during the fourth quarter. King Wealth Management Group now owns 16,686 shares of the biopharmaceutical company’s stock worth $480,000 after purchasing an additional 388 shares during the period. Finally, Advance Capital Management Inc. boosted its holdings in shares of Pfizer by 4.0% during the fourth quarter. Advance Capital Management Inc. now owns 10,177 shares of the biopharmaceutical company’s stock worth $293,000 after purchasing an additional 391 shares during the period. Institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PFE. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Wednesday, June 26th. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. BMO Capital Markets restated an “outperform” rating and issued a $36.00 price objective (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Finally, Morgan Stanley raised their price objective on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $35.54.

Pfizer Stock Performance

PFE stock traded down $0.39 on Tuesday, hitting $27.83. The company had a trading volume of 21,710,518 shares, compared to its average volume of 40,639,887. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $37.80. The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66. The stock’s 50-day simple moving average is $27.93 and its 200 day simple moving average is $27.70. The stock has a market cap of $157.70 billion, a price-to-earnings ratio of -464.76, a P/E/G ratio of 1.10 and a beta of 0.69.

Pfizer (NYSE:PFE) last issued its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter last year, the company posted $1.23 earnings per share. The firm’s quarterly revenue was down 19.5% on a year-over-year basis. As a group, equities research analysts expect that Pfizer Inc. will post 2.38 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.04%. The ex-dividend date of this dividend is Thursday, July 25th. Pfizer’s dividend payout ratio is presently -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.