Carret Asset Management LLC Decreases Stake in Pfizer Inc. (NYSE:PFE)

Carret Asset Management LLC reduced its stake in Pfizer Inc. (NYSE:PFE) by 2.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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.

A number of other large investors have also bought and sold shares of the stock. Adage Capital Partners GP L.L.C. grew its position in shares of Pfizer by 40.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,739,672 shares of the biopharmaceutical company’s stock worth $157,215,000 after buying an additional 1,365,295 shares during the last quarter. LifePlan Financial LLC bought a new stake in shares of Pfizer during the fourth quarter valued at approximately $255,000. Brookstone Capital Management boosted its position in shares of Pfizer by 88.5% during the third quarter. Brookstone Capital Management now owns 452,352 shares of the biopharmaceutical company’s stock valued at $14,109,000 after purchasing an additional 212,369 shares in the last quarter. ETF Store Inc. boosted its position in shares of Pfizer by 12.0% during the third quarter. ETF Store Inc. now owns 6,803 shares of the biopharmaceutical company’s stock valued at $214,000 after purchasing an additional 727 shares in the last quarter. Finally, KLCM Advisors Inc. boosted its holdings in Pfizer by 75.0% in the fourth quarter. KLCM Advisors Inc. now owns 173,793 shares of the biopharmaceutical company’s stock worth $5,004,000 after acquiring an additional 74,487 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Price Performance

Shares of NYSE PFE traded down $0.06 during mid-day trading on Wednesday, reaching $26.26. The company’s stock had a trading volume of 24,501,011 shares, compared to its average volume of 41,887,898. The firm has a market capitalization of $148.70 billion, a PE ratio of 72.97, a P/E/G ratio of 1.18 and a beta of 0.61. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.91 and a quick ratio of 0.69. The stock has a fifty day moving average of $27.07 and a two-hundred day moving average of $28.52. Pfizer Inc. has a 52 week low of $25.23 and a 52 week high of $40.37.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.29. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. The company had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.37 billion. During the same period in the prior year, the company earned $1.14 earnings per share. The firm’s revenue was down 41.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Pfizer Inc. will post 2.24 EPS for the current fiscal year.

Pfizer Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Argus downgraded Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. TD Cowen downgraded Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 target price on the stock. in a report on Thursday, January 4th. Guggenheim initiated coverage on Pfizer in a report on Friday, February 23rd. They issued a “buy” rating and a $36.00 target price on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Monday, April 15th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pfizer currently has an average rating of “Hold” and an average price target of $36.33.

Pfizer Company 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.