Pfizer Inc. (NYSE:PFE) Shares Sold by Pettee Investors Inc.

Pettee Investors Inc. lessened its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 20.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 76,518 shares of the biopharmaceutical company's stock after selling 19,648 shares during the quarter. Pfizer accounts for approximately 1.2% of Pettee Investors Inc.'s holdings, making the stock its 29th largest holding. Pettee Investors Inc.'s holdings in Pfizer were worth $1,939,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Clarity Asset Management Inc. purchased a new stake in Pfizer in the fourth quarter valued at approximately $27,000. Gould Capital LLC raised its stake 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 worth $27,000 after buying an additional 493 shares during the period. North Capital Inc. acquired a new position in shares of Pfizer during the 1st quarter worth approximately $28,000. Bernard Wealth Management Corp. acquired a new position in shares of Pfizer during the 4th quarter worth approximately $30,000. Finally, Horizon Financial Services LLC acquired a new position in shares of Pfizer during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 68.36% of the company's stock.

Pfizer Price Performance

Shares of NYSE PFE opened at $24.59 on Thursday. Pfizer Inc. has a 1-year low of $20.92 and a 1-year high of $31.54. The business has a 50-day moving average of $23.99 and a 200-day moving average of $24.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 0.96. The company has a market capitalization of $139.79 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 0.90 and a beta of 0.58.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.25. The firm had revenue of $13.72 billion for the quarter, compared to analysts' expectations of $14.43 billion. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. Pfizer's revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 earnings per share. On average, equities analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 7.00%. The ex-dividend date of this dividend is Friday, July 25th. Pfizer's dividend payout ratio (DPR) is 124.64%.

Analyst Upgrades and Downgrades

Several research firms recently commented on PFE. The Goldman Sachs Group increased their price objective on Pfizer from $25.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Morgan Stanley increased their price target on Pfizer from $31.00 to $32.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Bank of America increased their target price on Pfizer from $26.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Cantor Fitzgerald began coverage on Pfizer in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price target on the stock. Finally, Wolfe Research raised their target price on Pfizer from $22.00 to $23.00 and gave the stock an "underperform" rating in a research report 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 issued a strong buy rating to the company. Based on data from MarketBeat, Pfizer presently has an average rating of "Hold" and an average price target of $28.55.

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.

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