Cornerstone Select Advisors LLC Sells 3,135 Shares of Pfizer Inc. $PFE

Cornerstone Select Advisors LLC trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 19.3% during the 1st quarter, Holdings Channel reports. The fund owned 13,140 shares of the biopharmaceutical company’s stock after selling 3,135 shares during the period. Cornerstone Select Advisors LLC’s holdings in Pfizer were worth $333,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PFE. Bessemer Group Inc. lifted its holdings in shares of Pfizer by 11.1% during the 1st quarter. Bessemer Group Inc. now owns 132,478 shares of the biopharmaceutical company’s stock valued at $3,358,000 after purchasing an additional 13,228 shares during the last quarter. Capital Advisors Inc. OK boosted its stake in Pfizer by 1.2% in the 1st quarter. Capital Advisors Inc. OK now owns 1,413,472 shares of the biopharmaceutical company’s stock worth $35,817,000 after purchasing an additional 17,032 shares in the last quarter. CHURCHILL MANAGEMENT Corp purchased a new position in Pfizer during the 1st quarter worth approximately $8,283,000. Alta Advisers Ltd grew its position in Pfizer by 69.6% during the 1st quarter. Alta Advisers Ltd now owns 31,912 shares of the biopharmaceutical company’s stock worth $809,000 after purchasing an additional 13,100 shares during the period. Finally, WCM Investment Management LLC grew its position in Pfizer by 8.7% during the 1st quarter. WCM Investment Management LLC now owns 125,964 shares of the biopharmaceutical company’s stock worth $3,176,000 after purchasing an additional 10,051 shares during the period. 68.36% of the stock is currently owned by institutional investors.

Pfizer Stock Up 0.2%

Shares of NYSE:PFE opened at $25.16 on Monday. The firm’s 50 day moving average price is $24.60 and its 200 day moving average price is $24.42. The stock has a market cap of $143.05 billion, a price-to-earnings 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. 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 issued its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.20. The firm had revenue of $14.65 billion for the quarter, compared to analysts’ expectations of $13.43 billion. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 earnings per share. As a group, equities research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a yield of 6.8%. Pfizer’s dividend payout ratio (DPR) is presently 91.49%.

Analyst Upgrades and Downgrades

PFE has been the subject of several recent research reports. Cantor Fitzgerald initiated coverage on shares of Pfizer in a report on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 target price for the company. HSBC lowered their price objective on Pfizer from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, May 19th. Citigroup upped their target price on shares of Pfizer from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Wednesday, August 6th. The Goldman Sachs Group upped their price objective on shares of Pfizer from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, April 30th. Finally, Redburn Atlantic reduced their price target on shares of Pfizer from $29.00 to $27.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Pfizer currently has an average rating of “Hold” and a consensus target price of $28.12.

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.