Pfizer Inc. (NYSE:PFE) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC lowered its holdings in Pfizer Inc. (NYSE:PFE) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,340 shares of the biopharmaceutical company’s stock after selling 3,234 shares during the period. Carret Asset Management LLC’s holdings in Pfizer were worth $3,205,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PFE. Charles Schwab Investment Management Inc. increased its position in shares of Pfizer by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock worth $3,161,261,000 after acquiring an additional 9,393,992 shares in the last quarter. Invesco Ltd. lifted its stake in Pfizer by 30.9% in the third quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock valued at $797,901,000 after acquiring an additional 5,678,004 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Pfizer by 9.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 60,207,521 shares of the biopharmaceutical company’s stock valued at $1,997,083,000 after acquiring an additional 5,185,453 shares during the last quarter. Bank of Nova Scotia lifted its stake in Pfizer by 219.4% in the third quarter. Bank of Nova Scotia now owns 5,503,983 shares of the biopharmaceutical company’s stock valued at $182,567,000 after acquiring an additional 3,780,696 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Pfizer by 38.9% in the third quarter. Canada Pension Plan Investment Board now owns 10,028,940 shares of the biopharmaceutical company’s stock worth $332,660,000 after buying an additional 2,807,846 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Trading Down 0.2 %

Pfizer stock traded down $0.06 during trading hours on Wednesday, reaching $26.26. 24,501,011 shares of the company’s stock traded hands, compared to its average volume of 41,887,898. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.91. Pfizer Inc. has a fifty-two week low of $25.23 and a fifty-two week high of $40.37. The firm has a market capitalization of $148.70 billion, a price-to-earnings ratio of 72.97, a PEG ratio of 1.18 and a beta of 0.61. The firm’s 50 day moving average is $27.07 and its 200-day moving average is $28.52.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.29. Pfizer had a net margin of 3.62% and a return on equity of 10.88%. The company had revenue of $14.25 billion for the quarter, compared to the consensus estimate of $14.37 billion. During the same period in the prior year, the company posted $1.14 EPS. The company’s revenue was down 41.3% compared to the same quarter last year. On average, analysts predict that Pfizer Inc. will post 2.24 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.40%. Pfizer’s dividend payout ratio (DPR) is presently 466.67%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PFE. Guggenheim began coverage on shares of Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 target price on the stock. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Monday, April 15th. Finally, TD Cowen lowered shares of Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price target on the stock. in a report on Thursday, January 4th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $36.33.

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.