Federated Hermes Inc. Has $549.16 Million Position in Pfizer Inc. (NYSE:PFE)
Federated Hermes Inc. decreased its position in Pfizer Inc. (NYSE:PFE) by 4.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,824,715 shares of the biopharmaceutical company’s stock after selling 852,674 shares during the quarter. Pfizer accounts for 1.6% of Federated Hermes Inc.’s portfolio, making the stock its 7th largest position. Federated Hermes Inc. owned about 0.30% of Pfizer worth $549,159,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. New England Investment & Retirement Group Inc. purchased a new position in Pfizer in the 1st quarter worth approximately $26,000. Lion Street Advisors LLC purchased a new position in Pfizer in the 1st quarter worth approximately $27,000. Benjamin Edwards Inc. increased its stake in Pfizer by 49.8% in the 1st quarter. Benjamin Edwards Inc. now owns 1,008 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 335 shares during the period. Stonebridge Financial Planning Group LLC purchased a new position in Pfizer in the 4th quarter worth approximately $55,000. Finally, ICW Investment Advisors LLC purchased a new position in Pfizer in the 4th quarter worth approximately $58,000. Institutional investors own 70.28% of the company’s stock.
PFE traded down $0.06 during midday trading on Wednesday, reaching $36.10. The company had a trading volume of 27,241,445 shares, compared to its average volume of 24,159,612. The company has a quick ratio of 0.78, a current ratio of 1.02 and a debt-to-equity ratio of 0.56. Pfizer Inc. has a 1 year low of $27.88 and a 1 year high of $44.56. The business has a 50-day moving average of $37.28 and a two-hundred day moving average of $36.83. The company has a market cap of $196.97 billion, a P/E ratio of 12.87, a P/E/G ratio of 2.61 and a beta of 0.70.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Friday, May 8th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend is Thursday, May 7th. Pfizer’s payout ratio is 51.53%.
In other news, EVP Douglas M. Lankler sold 65,000 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $37.85, for a total value of $2,460,250.00. Following the sale, the executive vice president now directly owns 135,375 shares in the company, valued at $5,123,943.75. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Pfizer Inc purchased 312,500 shares of Pfizer stock in a transaction dated Monday, March 16th. The stock was acquired at an average price of $16.00 per share, for a total transaction of $5,000,000.00. The disclosure for this purchase can be found here. 0.08% of the stock is owned by company insiders.
Several equities analysts have recently issued reports on PFE shares. Morgan Stanley reduced their target price on Pfizer from $43.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 2nd. Zacks Investment Research cut Pfizer from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a research note on Monday, May 4th. Barclays reduced their target price on Pfizer from $37.00 to $35.00 in a research note on Monday. Cantor Fitzgerald reissued a “buy” rating and set a $53.00 target price on shares of Pfizer in a research note on Thursday, March 19th. Finally, TheStreet upgraded Pfizer from a “c+” rating to a “b” rating in a research report on Monday. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Pfizer has a consensus rating of “Hold” and a consensus price target of $41.03.
Pfizer Company Profile
Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It offers medicines and vaccines in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases under the Lyrica, Chantix/Champix, Eliquis, Ibrance, Sutent, Xalkori, Inlyta, Xtandi, Enbrel, Xeljanz, Eucrisa, BeneFix, Genotropin, and Refacto AF/Xyntha brands.
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