Carnegie Lake Advisors LLC Trims Stock Position in Pfizer Inc. $PFE

Carnegie Lake Advisors LLC decreased its stake in Pfizer Inc. (NYSE:PFE) by 3.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 61,562 shares of the biopharmaceutical company’s stock after selling 2,397 shares during the period. Carnegie Lake Advisors LLC’s holdings in Pfizer were worth $1,492,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Westbourne Investments Inc. acquired a new position in shares of Pfizer in the first quarter valued at approximately $2,411,000. Bourne Lent Asset Management Inc. increased its stake in Pfizer by 90.8% in the 2nd quarter. Bourne Lent Asset Management Inc. now owns 38,255 shares of the biopharmaceutical company’s stock valued at $927,000 after buying an additional 18,200 shares during the period. Strs Ohio purchased a new position in Pfizer during the 1st quarter worth $49,968,000. IFM Investors Pty Ltd lifted its stake in shares of Pfizer by 3.8% in the 2nd quarter. IFM Investors Pty Ltd now owns 1,127,143 shares of the biopharmaceutical company’s stock worth $27,322,000 after acquiring an additional 41,263 shares during the period. Finally, Intrua Financial LLC boosted its holdings in shares of Pfizer by 17.4% in the first quarter. Intrua Financial LLC now owns 78,392 shares of the biopharmaceutical company’s stock valued at $1,986,000 after acquiring an additional 11,643 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wall Street Zen cut shares of Pfizer from a “buy” rating to a “hold” rating in a report on Sunday, September 28th. UBS Group reissued a “neutral” rating and set a $28.00 target price on shares of Pfizer in a research note on Wednesday, October 1st. Sanford C. Bernstein restated a “market perform” rating and issued a $30.00 price target on shares of Pfizer in a research note on Friday, October 31st. Bank of America increased their price objective on Pfizer from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Finally, Citigroup increased their price target on shares of Pfizer from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.18.

Pfizer Trading Up 1.3%

Shares of PFE stock opened at $24.92 on Friday. The stock has a market cap of $141.68 billion, a P/E ratio of 13.26, a P/E/G ratio of 0.81 and a beta of 0.54. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $27.69. The business has a fifty day simple moving average of $24.75 and a 200-day simple moving average of $24.34. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, November 4th. The biopharmaceutical company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The company had revenue of $16.65 billion during the quarter, compared to analysts’ expectations of $16.94 billion. Pfizer has set its FY 2025 guidance at 3.000-3.150 EPS. On average, analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date is Friday, November 7th. Pfizer’s dividend payout ratio is 91.49%.

Pfizer Company 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.