Silvercrest Asset Management Group LLC Has $4.18 Million Holdings in Pfizer Inc. (NYSE:PFE)

Silvercrest Asset Management Group LLC cut its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 76.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 157,640 shares of the biopharmaceutical company's stock after selling 512,779 shares during the period. Silvercrest Asset Management Group LLC's holdings in Pfizer were worth $4,182,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Rialto Wealth Management LLC bought a new stake in Pfizer during the 4th quarter worth about $26,000. Clarity Asset Management Inc. bought a new stake in shares of Pfizer in the 4th quarter valued at about $27,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Pfizer in the 4th quarter valued at about $28,000. Noble Wealth Management PBC bought a new stake in shares of Pfizer in the 4th quarter valued at about $31,000. Finally, Curio Wealth LLC bought a new stake in shares of Pfizer in the 4th quarter valued at about $32,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Stock Performance

Shares of NYSE:PFE opened at $23.01 on Tuesday. The company's 50 day moving average price is $23.60 and its two-hundred day moving average price is $25.28. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $31.54. The firm has a market cap of $130.82 billion, a PE ratio of 16.32, a PEG ratio of 0.64 and a beta of 0.58. 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 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $13.72 billion for the quarter, compared to analyst estimates of $14.43 billion. During the same quarter in the prior year, the business posted $0.82 EPS. The business's revenue was down 7.8% compared to the same quarter last year. Equities research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, May 9th. This represents a $1.72 annualized dividend and a dividend yield of 7.48%. Pfizer's dividend payout ratio is 124.64%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PFE shares. UBS Group upped their target price on shares of Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Cantor Fitzgerald started coverage on shares of Pfizer in a report on Tuesday, April 22nd. They issued a "neutral" rating and a $24.00 target price on the stock. Citigroup reaffirmed a "neutral" rating on shares of Pfizer in a report on Thursday, March 27th. Hsbc Global Res raised shares of Pfizer to a "strong-buy" rating in a report on Monday, March 10th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $25.00 price target (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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.

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.