Forte Capital LLC ADV Decreases Stake in Pfizer Inc. (NYSE:PFE)

Forte Capital LLC ADV decreased its position in Pfizer Inc. (NYSE:PFE) by 65.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,521 shares of the biopharmaceutical company’s stock after selling 29,297 shares during the period. Forte Capital LLC ADV’s holdings in Pfizer were worth $447,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Channel Wealth LLC grew its position in shares of Pfizer by 17.5% during the 3rd quarter. Channel Wealth LLC now owns 68,808 shares of the biopharmaceutical company’s stock valued at $2,282,000 after acquiring an additional 10,230 shares during the period. NorthRock Partners LLC boosted its holdings in Pfizer by 10.9% in the 3rd quarter. NorthRock Partners LLC now owns 33,259 shares of the biopharmaceutical company’s stock worth $1,103,000 after buying an additional 3,281 shares during the period. Arnhold LLC boosted its holdings in Pfizer by 57.6% in the 3rd quarter. Arnhold LLC now owns 559,858 shares of the biopharmaceutical company’s stock worth $18,570,000 after buying an additional 204,670 shares during the period. Kure Advisory LLC bought a new position in Pfizer in the 3rd quarter worth approximately $232,000. Finally, Canal Insurance CO boosted its holdings in Pfizer by 32.4% in the 3rd quarter. Canal Insurance CO now owns 204,200 shares of the biopharmaceutical company’s stock worth $6,773,000 after buying an additional 50,000 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PFE shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Monday, April 15th. Morgan Stanley raised their price target on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday. Argus downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. BMO Capital Markets reissued an “outperform” rating and issued a $36.00 price target (up from $33.00) on shares of Pfizer in a report on Thursday. Finally, Guggenheim started coverage on shares of Pfizer in a report on Friday, February 23rd. They issued a “buy” rating and a $36.00 price target for the company. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $36.00.

Pfizer Trading Up 0.4 %

NYSE:PFE traded up $0.11 during trading hours on Friday, reaching $27.81. The company’s stock had a trading volume of 60,568,852 shares, compared to its average volume of 41,900,304. The firm has a market capitalization of $157.48 billion, a price-to-earnings ratio of -463.42, a PEG ratio of 1.18 and a beta of 0.63. The firm has a 50-day simple moving average of $26.88 and a 200-day simple moving average of $28.21. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $40.37. 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 (NYSE:PFE) last issued its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The company had revenue of $14.88 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.58%. The firm’s revenue was down 19.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.23 EPS. Research analysts expect that Pfizer Inc. will post 2.36 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. Shareholders of record on Friday, May 10th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s dividend payout ratio (DPR) is presently -2,799.53%.

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.