Parsons Capital Management Inc. RI Sells 36,813 Shares of Pfizer Inc. (NYSE:PFE)

Parsons Capital Management Inc. RI lowered its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 12.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 257,951 shares of the biopharmaceutical company's stock after selling 36,813 shares during the period. Parsons Capital Management Inc. RI's holdings in Pfizer were worth $6,536,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PFE. Walker Asset Management LLC boosted its position in shares of Pfizer by 10.9% in the 1st quarter. Walker Asset Management LLC now owns 12,862 shares of the biopharmaceutical company's stock worth $326,000 after purchasing an additional 1,264 shares in the last quarter. SJS Investment Consulting Inc. raised its stake in Pfizer by 9.2% during the first quarter. SJS Investment Consulting Inc. now owns 5,945 shares of the biopharmaceutical company's stock valued at $151,000 after buying an additional 503 shares during the last quarter. Sonora Investment Management Group LLC boosted its holdings in Pfizer by 13.4% in the first quarter. Sonora Investment Management Group LLC now owns 406,837 shares of the biopharmaceutical company's stock worth $10,309,000 after acquiring an additional 48,089 shares in the last quarter. Accurate Wealth Management LLC grew its stake in shares of Pfizer by 5.8% in the first quarter. Accurate Wealth Management LLC now owns 37,809 shares of the biopharmaceutical company's stock worth $958,000 after acquiring an additional 2,073 shares during the last quarter. Finally, Simplicity Wealth LLC bought a new position in shares of Pfizer during the first quarter valued at $1,881,000. Hedge funds and other institutional investors own 68.36% of the company's stock.

Pfizer Stock Performance

NYSE:PFE traded up $0.33 on Tuesday, hitting $24.30. The stock had a trading volume of 40,417,958 shares, compared to its average volume of 41,020,511. The business's 50-day simple moving average is $22.93 and its two-hundred day simple moving average is $24.98. The stock has a market cap of $138.13 billion, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 0.64 and a beta of 0.57. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $31.54. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

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, beating analysts' consensus estimates of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business had revenue of $13.72 billion during the quarter, compared to analysts' expectations of $14.43 billion. During the same period in the prior year, the company earned $0.82 earnings per share. The firm's revenue was down 7.8% on a year-over-year basis. As a group, research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 7.08%. The ex-dividend date of this dividend is Friday, May 9th. Pfizer's dividend payout ratio is 124.64%.

Analyst Ratings Changes

Several brokerages recently commented on PFE. Hsbc Global Res raised shares of Pfizer to a "strong-buy" rating in a research report on Monday, March 10th. UBS Group increased their price target on shares of Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Guggenheim reissued a "buy" rating on shares of Pfizer in a research report on Tuesday, March 18th. Cantor Fitzgerald assumed coverage on Pfizer in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 target price on the stock. Finally, Citigroup reissued a "neutral" rating on shares of Pfizer in a report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Pfizer currently has a consensus rating of "Moderate Buy" and a consensus 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.