Pfizer Inc. (NYSE:PFE) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC cut its stake in Pfizer Inc. (NYSE:PFE) by 18.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 474,419 shares of the biopharmaceutical company’s stock after selling 106,757 shares during the quarter. Cresset Asset Management LLC’s holdings in Pfizer were worth $12,022,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PFE. Clarity Asset Management Inc. purchased a new stake in Pfizer in the 4th quarter valued at $27,000. Gould Capital LLC grew its holdings in shares of Pfizer by 97.2% in the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 493 shares during the period. GKV Capital Management Co. Inc. purchased a new position in Pfizer during the first quarter worth about $27,000. Bayforest Capital Ltd purchased a new stake in shares of Pfizer in the 1st quarter valued at approximately $28,000. Finally, North Capital Inc. acquired a new stake in shares of Pfizer during the 1st quarter worth approximately $28,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Citigroup raised their target price on Pfizer from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. Wolfe Research boosted their price objective on shares of Pfizer from $22.00 to $23.00 and gave the company an “underperform” rating in a report on Wednesday, April 30th. Morgan Stanley lifted their price target on shares of Pfizer from $32.00 to $33.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 6th. HSBC decreased their price objective on shares of Pfizer from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, May 19th. Finally, TD Cowen cut their target price on Pfizer from $32.00 to $28.00 and set a “hold” rating on the stock in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $28.12.

Pfizer Price Performance

Shares of NYSE PFE opened at $25.16 on Friday. The stock’s 50-day simple moving average is $24.60 and its 200-day simple moving average is $24.44. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.16. The firm has a market capitalization of $143.05 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.89 and a beta of 0.52. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $30.43.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.58 by $0.20. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The firm had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. During the same period last year, the business earned $0.60 EPS. Pfizer’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, equities research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 annualized dividend and a yield of 6.8%. Pfizer’s payout ratio is 91.49%.

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.