Bourne Lent Asset Management Inc. Decreases Stock Holdings in Pfizer Inc. (NYSE:PFE)

Bourne Lent Asset Management Inc. decreased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 4.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,055 shares of the biopharmaceutical company’s stock after selling 850 shares during the quarter. Bourne Lent Asset Management Inc.’s holdings in Pfizer were worth $508,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Rialto Wealth Management LLC purchased a new stake in Pfizer during the fourth quarter valued at $26,000. Clarity Asset Management Inc. bought a new position in Pfizer during the fourth quarter valued at $27,000. Gould Capital LLC increased 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 valued at $27,000 after acquiring an additional 493 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in Pfizer during the fourth quarter valued at $28,000. Finally, Bernard Wealth Management Corp. bought a new position in Pfizer during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Trading Up 1.0%

NYSE PFE opened at $23.36 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $31.54. The company’s 50-day moving average price is $22.95 and its 200-day moving average price is $25.00. The stock has a market cap of $132.81 billion, a PE ratio of 16.57, a PEG ratio of 0.64 and a beta of 0.57.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The company had revenue of $13.72 billion for the quarter, compared to analysts’ expectations of $14.43 billion. During the same period in the prior year, the business earned $0.82 EPS. The firm’s quarterly revenue was down 7.8% on a year-over-year basis. Equities research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 7.36%. The ex-dividend date of this dividend is Friday, May 9th. Pfizer’s payout ratio is 124.64%.

Analysts Set New Price Targets

A number of research analysts have weighed in on PFE shares. UBS Group boosted their price objective on shares of Pfizer from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. The Goldman Sachs Group reiterated a “neutral” rating and set a $25.00 price objective (down previously from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. Cantor Fitzgerald started coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 price objective on the stock. Guggenheim reiterated a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. Finally, Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

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.