Marino Stram & Associates LLC Sells 2,588 Shares of Pfizer Inc. (NYSE:PFE)

Marino Stram & Associates LLC decreased its stake in Pfizer Inc. (NYSE:PFE) by 5.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,585 shares of the biopharmaceutical company’s stock after selling 2,588 shares during the period. Marino Stram & Associates LLC’s holdings in Pfizer were worth $1,130,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Pfizer during the fourth quarter valued at about $2,328,986,000. Charles Schwab Investment Management Inc. increased its position in shares of Pfizer by 19.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock valued at $4,124,330,000 after purchasing an additional 25,315,159 shares during the period. Starboard Value LP acquired a new position in shares of Pfizer in the fourth quarter valued at $407,730,000. Raymond James Financial Inc. bought a new position in Pfizer in the fourth quarter worth $274,694,000. Finally, Assenagon Asset Management S.A. boosted its stake in Pfizer by 307.5% during the first quarter. Assenagon Asset Management S.A. now owns 10,046,340 shares of the biopharmaceutical company’s stock worth $254,574,000 after buying an additional 7,581,030 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

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

Pfizer Stock Performance

Shares of NYSE:PFE opened at $24.00 on Wednesday. The business has a fifty day moving average of $23.14 and a 200-day moving average of $24.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 1.26. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $31.54. The firm has a market cap of $136.47 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 0.89 and a beta of 0.57.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 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 20.33%. 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 firm earned $0.82 EPS. The company’s revenue was down 7.8% on a year-over-year basis. On average, equities research analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 9th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.17%. Pfizer’s payout ratio is currently 124.64%.

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.