Nemes Rush Group LLC Sells 12,251 Shares of Pfizer Inc. (NYSE:PFE)

Key Points

• Nemes Rush Group LLC reduced its stake in Pfizer by 9.7%, selling 12,251 shares in the first quarter, leaving it with holdings valued at approximately $2.9 million.
• Several institutional investors adjusted their positions in Pfizer, with Sterling Investment Advisors Ltd. increasing its stake by 879.9%, now holding 76,582 shares.
• Pfizer announced a quarterly dividend of $0.43, representing an annual yield of 6.94%, with a current payout ratio of 124.64%.

Nemes Rush Group LLC cut its position in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 9.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 114,610 shares of the biopharmaceutical company's stock after selling 12,251 shares during the quarter. Nemes Rush Group LLC's holdings in Pfizer were worth $2,904,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ridgewood Investments LLC boosted its position in Pfizer by 4.4% during the 1st quarter. Ridgewood Investments LLC now owns 80,825 shares of the biopharmaceutical company's stock worth $2,048,000 after acquiring an additional 3,377 shares during the last quarter. TCW Group Inc. lifted its position in shares of Pfizer by 5.7% in the first quarter. TCW Group Inc. now owns 84,061 shares of the biopharmaceutical company's stock worth $2,130,000 after purchasing an additional 4,523 shares in the last quarter. Sterling Investment Advisors Ltd. lifted its position in shares of Pfizer by 879.9% in the first quarter. Sterling Investment Advisors Ltd. now owns 76,582 shares of the biopharmaceutical company's stock worth $1,941,000 after purchasing an additional 68,767 shares in the last quarter. Dudley Capital Management LLC boosted its holdings in Pfizer by 28.4% during the first quarter. Dudley Capital Management LLC now owns 71,299 shares of the biopharmaceutical company's stock worth $1,807,000 after purchasing an additional 15,768 shares during the last quarter. Finally, Mitchell Sinkler & Starr PA grew its position in Pfizer by 2.1% in the first quarter. Mitchell Sinkler & Starr PA now owns 29,299 shares of the biopharmaceutical company's stock valued at $742,000 after purchasing an additional 596 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company's stock.

Analyst Upgrades and Downgrades

PFE has been the subject of a number of recent research reports. Jefferies Financial Group increased their price objective on shares of Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. TD Cowen reduced their price target on Pfizer from $32.00 to $28.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. UBS Group boosted their price target on Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Leerink Partners dropped their price objective on Pfizer from $28.00 to $26.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 30th. Finally, Redburn Atlantic decreased their target price on shares of Pfizer from $29.00 to $27.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $28.55.

Pfizer Price Performance

Pfizer stock opened at $24.79 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 1.26. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $31.54. The stock has a market capitalization of $140.91 billion, a P/E ratio of 17.96, a price-to-earnings-growth ratio of 0.90 and a beta of 0.58. The stock has a fifty day moving average of $24.30 and a 200-day moving average of $24.66.

Pfizer (NYSE:PFE - Get Free Report) last issued 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. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. The firm had revenue of $13.72 billion during the quarter, compared to the consensus estimate of $14.43 billion. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The business's quarterly revenue was down 7.8% on a year-over-year basis. On average, sell-side analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be given a $0.43 dividend. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a yield of 6.94%. Pfizer's dividend payout ratio is currently 124.64%.

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.

Want to see what other hedge funds are holding PFE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pfizer Inc. (NYSE:PFE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.