Carnegie Lake Advisors LLC Raises Stock Holdings in Pfizer Inc. (NYSE:PFE)

Carnegie Lake Advisors LLC raised its position in shares of Pfizer Inc. (NYSE:PFE) by 1.3% during the 4th quarter, Holdings Channel reports. The firm owned 62,364 shares of the biopharmaceutical company’s stock after buying an additional 800 shares during the quarter. Carnegie Lake Advisors LLC’s holdings in Pfizer were worth $1,655,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Retirement Wealth Solutions LLC purchased a new position in Pfizer during the 4th quarter worth approximately $26,000. Gladius Capital Management LP increased its stake in shares of Pfizer by 102.8% in the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 38,015 shares during the period. Teachers Insurance & Annuity Association of America purchased a new position in shares of Pfizer during the third quarter worth $35,000. Joseph Group Capital Management lifted its position in Pfizer by 168.3% during the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 771 shares during the period. Finally, Sugar Maple Asset Management LLC purchased a new stake in Pfizer in the fourth quarter valued at $43,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PFE. Wolfe Research began coverage on Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective for the company. Citigroup decreased their price target on Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. Guggenheim reaffirmed a “buy” rating and set a $33.00 price objective on shares of Pfizer in a research note on Monday. Sanford C. Bernstein assumed coverage on shares of Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price for the company. Finally, UBS Group dropped their price target on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $31.92.

Pfizer Trading Up 0.5 %

Shares of Pfizer stock opened at $25.87 on Tuesday. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. The firm’s 50-day moving average price is $26.28 and its 200 day moving average price is $27.72. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $146.58 billion, a PE ratio of 18.34, a P/E/G ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.15. The firm had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The business’s revenue was up 24.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. On average, sell-side analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be paid a $0.43 dividend. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 6.65%. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s dividend payout ratio (DPR) is currently 121.99%.

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.