Carret Asset Management LLC Sells 3,750 Shares of Pfizer Inc. (NYSE:PFE)

Carret Asset Management LLC reduced its holdings in shares of Pfizer Inc. (NYSE:PFE) by 3.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 115,772 shares of the biopharmaceutical company’s stock after selling 3,750 shares during the period. Carret Asset Management LLC’s holdings in Pfizer were worth $3,350,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PFE. Kathmere Capital Management LLC bought a new stake in shares of Pfizer during the first quarter worth about $203,000. Hodges Capital Management Inc. increased its stake in shares of Pfizer by 16.9% in the 1st quarter. Hodges Capital Management Inc. now owns 12,127 shares of the biopharmaceutical company’s stock valued at $337,000 after acquiring an additional 1,752 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in Pfizer by 16.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 41,275 shares of the biopharmaceutical company’s stock valued at $1,145,000 after purchasing an additional 5,682 shares in the last quarter. Cornerstone Wealth Group LLC raised its stake in Pfizer by 72.0% during the 1st quarter. Cornerstone Wealth Group LLC now owns 15,412 shares of the biopharmaceutical company’s stock worth $428,000 after buying an additional 6,452 shares during the period. Finally, Chatham Capital Group Inc. grew its position in Pfizer by 4.1% in the 1st quarter. Chatham Capital Group Inc. now owns 31,594 shares of the biopharmaceutical company’s stock valued at $877,000 after purchasing an additional 1,237 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of analyst reports. Sanford C. Bernstein started coverage on shares of Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price on the stock. Citigroup initiated coverage on Pfizer in a research note on Friday. They issued a “neutral” rating and a $30.00 price objective for the company. UBS Group lifted their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Barclays increased their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned 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 $33.58.

Pfizer Stock Performance

NYSE PFE opened at $28.45 on Friday. The company has a market capitalization of $161.21 billion, a PE ratio of -474.17, a price-to-earnings-growth ratio of 1.01 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $31.54. The company has a 50-day simple moving average of $29.08 and a 200 day simple moving average of $28.51.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same quarter last year, the business posted $0.67 EPS. Pfizer’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, research analysts predict that Pfizer Inc. will post 2.67 EPS for the current year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 5.91%. Pfizer’s payout ratio is -2,800.00%.

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.