1. Pfizer Inc. (NYSE:PFE)
Element Capital Management’s Stake Value: $148,156,000
Percentage of Element Capital Management’s 13F Portfolio: 9.53%
Number of Hedge Fund Holders: 83
Pfizer Inc. (NYSE:PFE) is an American multinational pharmaceutical and biotechnology company that sells drugs and vaccines catering to immunology, oncology, cardiology, endocrinology, and neurology. Element Capital Management owned a $148.1 million stake in Pfizer Inc. (NYSE:PFE) in Q4 2021, representing 9.53% of the total 13F holdings.
On April 28, Pfizer Inc. (NYSE:PFE) declared a quarterly dividend of $0.40 per share, in line with previous. The dividend is payable on June 10, to shareholders of record on May 13. The company’s dividend yield on May 6 stood at 3.29%.
Pfizer Inc. (NYSE:PFE) reported on May 3 earnings for Q1 2022, posting an EPS of $1.62, above consensus by $0.05. Revenue for the period increased about 76% year-over-year to $25.66 billion, surpassing analysts’ predictions by $927.11 million.
Wells Fargo analyst Mohit Bansal on May 4 lowered the price target on Pfizer Inc. (NYSE:PFE) to $55 from $60 and maintained an Overweight rating on the shares. The analyst thinks buy-side expectations have declined significantly for a COVID tail and investors have started caring about the core business again. This year core business is against a difficult year-over-year comp but is growing operationally at about 5%, the analyst added.
According to the fourth quarter database of Insider Monkey, 83 hedge funds were bullish on Pfizer Inc. (NYSE:PFE), compared to 74 funds in the last quarter. Philippe Laffont’s Coatue Management held a prominent stake in the company, with 10.3 million shares worth about $609 million.
Here is what ClearBridge Investments Value Equity Strategy has to say about Pfizer Inc. (NYSE:PFE) in its Q4 2021 investor letter:
“While the level of general turnover abated as we progressed through 2021, it remained high in one area: post-COVID-19 recovery plays. The concept behind this investment thesis was, and still is, straightforward: with the advent of effective vaccines, the path from pandemic to endemic is just a matter of time. As this transition occurs, the estimated excess savings of over $2 trillion built up on U.S. consumer balance sheets will unlock dramatic pent-up demand for experiences, especially global travel. This investment case seemed especially compelling when the Pfizer vaccine positively surprised markets in November 2020. As a result, we made post-COVID-19 stocks (which were trading well below our estimate of recovery value) a sizable theme within the portfolio. We understood this to be a more aggressive tilt in positioning because it required a major improvement in demand to catalyze fundamentals and drive price toward higher business values. While we accepted that recovery would not be smooth and that it would take time to deploy vaccines both domestically and globally, we decided that recovery was the logical path of least resistance and we were being well compensated for these risks.
What we did not account for, however, was vaccine hesitancy and the risk of further infection waves. As a result, the first variant wave, Delta, was a negative surprise to both the market and our team. When the risk surfaced, we immediately updated our probability-driven models and debated how we should react. The resulting conclusion was that the recovery would be delayed and that we should reduce our exposure quickly, subsequently targeting the most aggressive recovery stocks such as cruise lines. We again acted swiftly and decisively to the positive surprise that Pfizer had delivered a high-efficacy antiviral COVID-19 pill. This pill should greatly reduce COVID-19 severity risks globally, increasing the probability of a global travel recovery in 2022. While this is still true, the emergence of the highly mutated Omicron variant set off another infection wave which spurred us to again act quickly and further reduce our risk exposure. This back-and-forth may sound exhausting, but it highlights our compulsion to act if we determine a surprise has a large enough impact on the probabilities that power our valuation-driven investment cases.”
You can also take a look at Top 10 Small-Cap Stocks Added to Billionaire Mario Gabelli’s Portfolio and 10 Biotech Stocks to Buy Today According to Ken Fisher’s Fisher Asset Management.
