Pallas Capital Advisors LLC Sells 100,901 Shares of Pfizer Inc. (NYSE:PFE)

Pallas Capital Advisors LLC lowered its position in Pfizer Inc. (NYSE:PFE) by 66.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,161 shares of the biopharmaceutical company’s stock after selling 100,901 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Pfizer were worth $1,271,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PFE. Tallon Kerry Patrick bought a new stake in Pfizer during the 4th quarter valued at $509,000. Brighton Jones LLC boosted its position in Pfizer by 1,282.4% during the 4th quarter. Brighton Jones LLC now owns 666,318 shares of the biopharmaceutical company’s stock valued at $17,677,000 after acquiring an additional 618,117 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Pfizer by 12.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 18,766 shares of the biopharmaceutical company’s stock valued at $498,000 after acquiring an additional 2,087 shares in the last quarter. Strategic Financial Concepts LLC bought a new stake in Pfizer during the 4th quarter valued at $2,281,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Pfizer in the 4th quarter worth $53,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

NYSE PFE opened at $24.30 on Wednesday. The stock has a 50-day simple moving average of $22.93 and a two-hundred day simple moving average of $24.98. The firm has a market capitalization of $138.13 billion, a P/E ratio of 17.23, a PEG ratio of 0.64 and a beta of 0.57. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $31.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.25. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The business had revenue of $13.72 billion during the quarter, compared to analyst estimates of $14.43 billion. During the same quarter last year, the business posted $0.82 EPS. The company’s revenue was down 7.8% on a year-over-year basis. On average, equities analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 9th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date is Friday, May 9th. Pfizer’s dividend payout ratio (DPR) is presently 124.64%.

Analyst Ratings Changes

A number of analysts have recently weighed in on PFE shares. Guggenheim reissued a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. UBS Group raised their price objective on Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Citigroup reissued a “neutral” rating on shares of Pfizer in a research report on Thursday, March 27th. Hsbc Global Res raised Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $25.00 target price (down previously from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Pfizer currently has an average rating of “Moderate Buy” and an average target price of $29.17.

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.