Lumbard & Kellner LLC Sells 3,895 Shares of Pfizer Inc. (NYSE:PFE)

Lumbard & Kellner LLC trimmed its position in shares of Pfizer Inc. (NYSE:PFE) by 3.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,528 shares of the biopharmaceutical company’s stock after selling 3,895 shares during the quarter. Lumbard & Kellner LLC’s holdings in Pfizer were worth $2,750,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PFE. Boston Trust Walden Corp raised its stake in Pfizer by 2.6% during the 1st quarter. Boston Trust Walden Corp now owns 72,862 shares of the biopharmaceutical company’s stock worth $1,846,000 after buying an additional 1,821 shares during the period. Premier Path Wealth Partners LLC increased its holdings in shares of Pfizer by 5.8% in the first quarter. Premier Path Wealth Partners LLC now owns 63,599 shares of the biopharmaceutical company’s stock worth $1,612,000 after acquiring an additional 3,473 shares in the last quarter. Heartwood Wealth Advisors LLC raised its position in shares of Pfizer by 5.2% during the first quarter. Heartwood Wealth Advisors LLC now owns 13,921 shares of the biopharmaceutical company’s stock worth $353,000 after purchasing an additional 690 shares during the period. Johnson Investment Counsel Inc. raised its position in shares of Pfizer by 30.0% during the first quarter. Johnson Investment Counsel Inc. now owns 143,433 shares of the biopharmaceutical company’s stock worth $3,635,000 after purchasing an additional 33,068 shares during the period. Finally, Steel Grove Capital Advisors LLC lifted its holdings in shares of Pfizer by 438.1% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 68,822 shares of the biopharmaceutical company’s stock valued at $1,744,000 after purchasing an additional 56,033 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PFE has been the subject of a number of research reports. Citigroup reissued a “neutral” rating on shares of Pfizer in a research note on Thursday, March 27th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $25.00 price target (down previously from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Cantor Fitzgerald initiated coverage on shares of Pfizer in a report on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 price objective on the stock. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. Finally, UBS Group upped their target price 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. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

Pfizer Stock Performance

Shares of PFE opened at $23.88 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $31.54. The firm has a fifty day simple moving average of $23.17 and a 200 day simple moving average of $24.92. The stock has a market capitalization of $135.74 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 0.87 and a beta of 0.57.

Pfizer (NYSE:PFE) last posted 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. The company had revenue of $13.72 billion during the quarter, compared to the consensus estimate of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The company’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.82 EPS. Research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 9th were paid a $0.43 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a yield of 7.20%. Pfizer’s dividend payout ratio is 124.64%.

Pfizer 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.