Carret Asset Management LLC Purchases 11,577 Shares of Pfizer Inc. (NYSE:PFE)

Carret Asset Management LLC lifted its position in shares of Pfizer Inc. (NYSE:PFE) by 10.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 122,917 shares of the biopharmaceutical company’s stock after buying an additional 11,577 shares during the quarter. Carret Asset Management LLC’s holdings in Pfizer were worth $3,411,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PFE. GoalVest Advisory LLC grew its position in shares of Pfizer by 304.9% during the 4th quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 811 shares in the last quarter. Creekmur Asset Management LLC bought a new position in Pfizer during the 4th quarter worth $32,000. Trivant Custom Portfolio Group LLC raised its holdings in Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 600 shares in the last quarter. VisionPoint Advisory Group LLC grew its holdings in shares of Pfizer by 52,350.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,049 shares of the biopharmaceutical company’s stock worth $35,000 after purchasing an additional 1,047 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of Pfizer in the fourth quarter worth $36,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Down 0.5 %

Pfizer stock traded down $0.13 during midday trading on Wednesday, reaching $27.70. The stock had a trading volume of 12,237,194 shares, compared to its average volume of 40,418,445. The company has a fifty day moving average price of $27.96 and a two-hundred day moving average price of $27.71. The company has a market capitalization of $156.96 billion, a P/E ratio of -462.33, a PEG ratio of 1.10 and a beta of 0.69. The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $37.80.

Pfizer (NYSE:PFE) last issued its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The company had revenue of $14.88 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same period in the prior year, the firm earned $1.23 earnings per share. Pfizer’s revenue for the quarter was down 19.5% on a year-over-year basis. As a group, equities analysts expect that Pfizer Inc. will post 2.38 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $1.68 annualized dividend and a yield of 6.06%. Pfizer’s payout ratio is -2,800.00%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Argus lowered shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 target price (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Wednesday, June 26th. Finally, Morgan Stanley raised their price target on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.54.

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.