Parsons Capital Management Inc. RI Reduces Stock Holdings in Pfizer Inc. (NYSE:PFE)

Parsons Capital Management Inc. RI lessened its holdings in shares of Pfizer Inc. (NYSE:PFE) by 12.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 257,951 shares of the biopharmaceutical company’s stock after selling 36,813 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Pfizer were worth $6,536,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Rialto Wealth Management LLC acquired a new stake in Pfizer during the 4th quarter valued at approximately $26,000. Clarity Asset Management Inc. acquired a new position in Pfizer during the 4th quarter valued at approximately $27,000. Gould Capital LLC boosted its position in Pfizer by 97.2% during the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 493 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in Pfizer during the 4th quarter valued at approximately $28,000. Finally, Bernard Wealth Management Corp. acquired a new position in Pfizer during the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Citigroup reaffirmed a “neutral” rating on shares of Pfizer in a research note on Thursday, March 27th. Guggenheim reissued a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. UBS Group boosted their price objective on Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. The Goldman Sachs Group restated a “neutral” rating and issued a $25.00 target price (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Finally, Cantor Fitzgerald began coverage on Pfizer in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $24.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Pfizer has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

Pfizer Trading Up 2.6%

Shares of NYSE PFE opened at $23.97 on Tuesday. The stock has a market cap of $136.26 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 0.64 and a beta of 0.57. The business has a 50 day simple moving average of $22.93 and a 200 day simple moving average of $24.98. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $31.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.67 by $0.25. The business had revenue of $13.72 billion during the quarter, compared to analysts’ expectations of $14.43 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 EPS. On average, research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a yield of 7.18%. Pfizer’s payout ratio is currently 124.64%.

Pfizer 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.