Pfizer Inc. (NYSE:PFE) Shares Sold by Grassi Investment Management

Grassi Investment Management lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 1.9% in the third quarter, HoldingsChannel.com reports. The firm owned 36,152 shares of the biopharmaceutical company’s stock after selling 700 shares during the period. Grassi Investment Management’s holdings in Pfizer were worth $1,046,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PFE. Global Assets Advisory LLC purchased a new position in shares of Pfizer during the 1st quarter worth approximately $725,000. Atlas Capital Advisors LLC boosted its position in shares of Pfizer by 54.4% during the 1st quarter. Atlas Capital Advisors LLC now owns 1,702 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 600 shares during the period. Sovereign Financial Group Inc. boosted its position in shares of Pfizer by 12.2% during the 1st quarter. Sovereign Financial Group Inc. now owns 16,929 shares of the biopharmaceutical company’s stock worth $470,000 after purchasing an additional 1,837 shares during the period. Wealthcare Advisory Partners LLC boosted its position in Pfizer by 149.7% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 129,868 shares of the biopharmaceutical company’s stock valued at $3,604,000 after buying an additional 77,868 shares during the period. Finally, Edge Wealth Management LLC boosted its position in Pfizer by 2.0% in the 1st quarter. Edge Wealth Management LLC now owns 260,180 shares of the biopharmaceutical company’s stock valued at $7,220,000 after buying an additional 5,121 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

PFE has been the subject of several recent research reports. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price target for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Barclays raised their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Sanford C. Bernstein initiated coverage on shares of Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $33.91.

Pfizer Price Performance

Pfizer stock opened at $28.84 on Thursday. The stock has a market cap of $163.42 billion, a P/E ratio of -481.00, a price-to-earnings-growth ratio of 1.02 and a beta of 0.67. The company has a fifty day simple moving average of $29.07 and a 200-day simple moving average of $28.48. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $31.54. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 earnings per share. Equities analysts expect that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 5.83%. Pfizer’s payout ratio is currently -2,800.00%.

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.