Pfizer Inc. (NYSE:PFE) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. trimmed its position in Pfizer Inc. (NYSE:PFE - Free Report) by 2.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 562,710 shares of the biopharmaceutical company's stock after selling 11,507 shares during the quarter. Pinnacle Associates Ltd.'s holdings in Pfizer were worth $14,259,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PFE. Unison Advisors LLC grew its position in Pfizer by 1.6% in the first quarter. Unison Advisors LLC now owns 90,398 shares of the biopharmaceutical company's stock worth $2,291,000 after acquiring an additional 1,420 shares in the last quarter. Blume Capital Management Inc. grew its position in Pfizer by 60.5% in the first quarter. Blume Capital Management Inc. now owns 188,633 shares of the biopharmaceutical company's stock worth $4,780,000 after acquiring an additional 71,075 shares in the last quarter. Abel Hall LLC grew its position in Pfizer by 41.6% in the first quarter. Abel Hall LLC now owns 11,505 shares of the biopharmaceutical company's stock worth $292,000 after acquiring an additional 3,378 shares in the last quarter. Burney Co. grew its position in Pfizer by 9.2% in the first quarter. Burney Co. now owns 156,990 shares of the biopharmaceutical company's stock worth $3,978,000 after acquiring an additional 13,259 shares in the last quarter. Finally, Brooktree Capital Management grew its position in Pfizer by 2.4% in the first quarter. Brooktree Capital Management now owns 118,171 shares of the biopharmaceutical company's stock worth $2,994,000 after acquiring an additional 2,788 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PFE shares. Wolfe Research lifted their price target on Pfizer from $22.00 to $23.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 30th. Cantor Fitzgerald assumed coverage on Pfizer in a research report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 price target for the company. BMO Capital Markets dropped their target price on Pfizer from $36.00 to $30.00 in a research report on Thursday, April 17th. Morgan Stanley boosted their target price on Pfizer from $31.00 to $32.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Finally, HSBC dropped their target price on Pfizer from $27.00 to $26.00 and set a "buy" rating for the company in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $28.55.

Pfizer Trading Up 0.1%

Shares of NYSE PFE traded up $0.01 during trading hours on Thursday, reaching $25.37. The stock had a trading volume of 25,643,723 shares, compared to its average volume of 38,513,248. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64. The firm has a market cap of $144.25 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 0.92 and a beta of 0.58. The business's fifty day moving average price is $24.26 and its two-hundred day moving average price is $24.70. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $31.54.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.25. The firm had revenue of $13.72 billion during the quarter, compared to analyst estimates of $14.43 billion. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. Pfizer's quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 earnings per share. Analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

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 paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 6.78%. The ex-dividend date is Friday, July 25th. Pfizer's dividend payout ratio (DPR) is 124.64%.

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.