Center For Asset Management LLC Sells 16,909 Shares of Pfizer Inc. (NYSE:PFE)

Center For Asset Management LLC decreased its position in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 48.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,143 shares of the biopharmaceutical company's stock after selling 16,909 shares during the period. Center For Asset Management LLC's holdings in Pfizer were worth $460,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Rialto Wealth Management LLC bought a new stake in Pfizer in the fourth quarter valued at about $26,000. Clarity Asset Management Inc. bought a new stake in shares of Pfizer during the fourth quarter valued at approximately $27,000. Gould Capital LLC grew its stake in shares of Pfizer by 97.2% during the fourth 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 last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Pfizer during the fourth quarter valued at approximately $28,000. Finally, Bernard Wealth Management Corp. acquired a new position in Pfizer in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 68.36% of the company's stock.

Pfizer Stock Performance

Shares of PFE traded up $0.28 during midday trading on Tuesday, reaching $24.31. The stock had a trading volume of 34,390,192 shares, compared to its average volume of 41,293,682. The firm has a 50 day simple moving average of $23.30 and a 200-day simple moving average of $24.88. Pfizer Inc. has a one year low of $20.92 and a one year high of $31.54. The firm has a market cap of $138.18 billion, a PE ratio of 7.49, a P/E/G ratio of 0.87 and a beta of 0.57. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64.

Pfizer (NYSE:PFE - Get Free Report) last announced its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.67 by $0.25. The business had revenue of $13.72 billion during the quarter, compared to the consensus estimate of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. Pfizer's revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 EPS. As a group, sell-side analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 9th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 7.08%. The ex-dividend date was Friday, May 9th. Pfizer's dividend payout ratio is currently 124.64%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Pfizer in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price objective on the stock. Guggenheim reiterated a "buy" rating on shares of Pfizer in a report on Tuesday, March 18th. Citigroup reiterated a "neutral" rating on shares of Pfizer in a report on Thursday, March 27th. The Goldman Sachs Group reiterated 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, UBS Group increased their target price on shares of Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Pfizer presently has a consensus rating of "Moderate Buy" and an average target price of $29.17.

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.