Grassi Investment Management Reduces Holdings in Pfizer Inc. (NYSE:PFE)

Grassi Investment Management trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 2.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,152 shares of the biopharmaceutical company’s stock after selling 1,000 shares during the quarter. Grassi Investment Management’s holdings in Pfizer were worth $891,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rialto Wealth Management LLC purchased a new position in Pfizer in the fourth quarter worth approximately $26,000. Clarity Asset Management Inc. purchased a new stake in shares of Pfizer during the 4th quarter worth $27,000. Gould Capital LLC grew its position in Pfizer by 97.2% during the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 493 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in Pfizer in the 4th quarter valued at approximately $28,000. Finally, Bernard Wealth Management Corp. acquired a new position in shares of Pfizer during the 4th quarter worth $30,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on PFE. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. UBS Group increased their price objective on shares of Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Citigroup reiterated a “neutral” rating on shares of Pfizer in a research note on Thursday, March 27th. The Goldman Sachs Group reissued 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. Finally, Guggenheim reiterated a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $29.17.

Pfizer Stock Performance

NYSE:PFE opened at $23.42 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $31.54. The company has a market cap of $133.15 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 0.64 and a beta of 0.58. The stock has a fifty day moving average price of $23.02 and a 200-day moving average price of $25.02.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.25. The business had revenue of $13.72 billion during the quarter, compared to the consensus estimate of $14.43 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. Pfizer’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 earnings per share. As a group, equities analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 7.34%. The ex-dividend date of this dividend is Friday, May 9th. Pfizer’s dividend payout ratio is currently 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.