Pfizer Inc. (NYSE:PFE) Shares Sold by Inlet Private Wealth LLC

Key Points

• Inlet Private Wealth LLC reduced its Pfizer holdings by 45.6% in the 1st quarter, leaving them with approximately 19,630 shares valued at $497,000.
• Pfizer's recent earnings report showed an EPS of $0.92, exceeding estimates by $0.25, despite a 7.8% decline in quarterly revenue year-over-year.
• The company declared a quarterly dividend of $0.43, yielding 6.94%, with Shareholders on record from July 25th eligible for the payment.

Inlet Private Wealth LLC decreased its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 45.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,630 shares of the biopharmaceutical company's stock after selling 16,478 shares during the quarter. Inlet Private Wealth LLC's holdings in Pfizer were worth $497,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PFE. Clarity Asset Management Inc. acquired a new position in shares of Pfizer during the 4th quarter valued at $27,000. Gould Capital LLC lifted its holdings in shares of Pfizer by 97.2% during the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 493 shares in the last quarter. North Capital Inc. acquired a new position in shares of Pfizer during the 1st quarter valued at $28,000. Bernard Wealth Management Corp. acquired a new position in shares of Pfizer during the 4th quarter valued at $30,000. Finally, Horizon Financial Services LLC acquired a new position in shares of Pfizer during the 1st quarter valued at $35,000. Institutional investors and hedge funds own 68.36% of the company's stock.

Pfizer Price Performance

Shares of NYSE:PFE opened at $24.79 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.64. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $31.54. The firm has a 50-day simple moving average of $24.30 and a 200 day simple moving average of $24.65. The company has a market cap of $140.91 billion, a PE ratio of 17.96, a P/E/G ratio of 0.90 and a beta of 0.58.

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

Pfizer Announces Dividend

The company 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. This represents a $1.72 annualized dividend and a yield of 6.94%. The ex-dividend date of this dividend is Friday, July 25th. Pfizer's dividend payout ratio (DPR) is 124.64%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PFE. Cantor Fitzgerald began 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. UBS Group boosted their price objective on shares of Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Citigroup boosted their price objective on shares of Pfizer from $23.00 to $25.00 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Jefferies Financial Group boosted their price objective on shares of Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Finally, Berenberg Bank cut their price objective on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a report on Thursday, May 29th. One 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 given a strong buy rating to the company. According to MarketBeat, Pfizer presently has a consensus rating of "Hold" and a consensus price target of $28.55.

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.

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