Carret Asset Management LLC Buys 11,577 Shares of Pfizer Inc. (NYSE:PFE)

Carret Asset Management LLC grew its stake in shares of Pfizer Inc. (NYSE:PFE) by 10.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 122,917 shares of the biopharmaceutical company’s stock after purchasing an additional 11,577 shares during the period. Carret Asset Management LLC’s holdings in Pfizer were worth $3,411,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. GoalVest Advisory LLC lifted its stake in shares of Pfizer by 304.9% in the 4th quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 811 shares during the period. Creekmur Asset Management LLC purchased a new stake in Pfizer in the fourth quarter worth approximately $32,000. Trivant Custom Portfolio Group LLC grew its position in Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares during the period. VisionPoint Advisory Group LLC raised its stake in Pfizer by 52,350.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,049 shares of the biopharmaceutical company’s stock valued at $35,000 after buying an additional 1,047 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of Pfizer during the 4th quarter valued at $36,000. 68.36% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PFE. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Wednesday, June 26th. Morgan Stanley upped their price target on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Argus downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 target price (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Pfizer presently has an average rating of “Hold” and a consensus target price of $35.54.

Pfizer Price Performance

Shares of NYSE:PFE traded down $0.13 during midday trading on Wednesday, reaching $27.70. 12,237,194 shares of the company were exchanged, compared to its average volume of 40,418,445. The stock has a market cap of $156.96 billion, a PE ratio of -462.33, a price-to-earnings-growth ratio of 1.10 and a beta of 0.69. The business’s fifty day moving average is $27.96 and its two-hundred day moving average is $27.71. Pfizer Inc. has a one year low of $25.20 and a one year high of $37.80. The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66.

Pfizer (NYSE:PFE) last issued its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.26. The firm had revenue of $14.88 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The business’s revenue was down 19.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 earnings per share. As a group, analysts predict that Pfizer Inc. will post 2.38 earnings per share for the current year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.06%. The ex-dividend date of this dividend is Thursday, July 25th. Pfizer’s dividend payout ratio (DPR) is presently -2,800.00%.

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.