Carnegie Investment Counsel Sells 7,395 Shares of Pfizer Inc. $PFE

Carnegie Investment Counsel lowered its holdings in Pfizer Inc. (NYSE:PFE) by 13.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,931 shares of the biopharmaceutical company’s stock after selling 7,395 shares during the period. Carnegie Investment Counsel’s holdings in Pfizer were worth $1,162,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. GKV Capital Management Co. Inc. bought a new position in shares of Pfizer in the 1st quarter valued at about $27,000. Bayforest Capital Ltd bought a new position in shares of Pfizer in the 1st quarter valued at about $28,000. North Capital Inc. bought a new position in shares of Pfizer in the 1st quarter valued at about $28,000. Harbor Asset Planning Inc. bought a new position in shares of Pfizer in the 2nd quarter valued at about $29,000. Finally, WPG Advisers LLC bought a new position in shares of Pfizer in the 1st quarter valued at about $35,000. Institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

PFE has been the subject of a number of analyst reports. Bank of America lifted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. UBS Group restated a “neutral” rating and set a $28.00 target price on shares of Pfizer in a research note on Wednesday, October 1st. Morgan Stanley cut their target price on shares of Pfizer from $33.00 to $32.00 and set an “equal weight” rating for the company in a research note on Friday, October 10th. Wall Street Zen cut shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Sunday, September 28th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Pfizer in a research note on Saturday. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $28.13.

Pfizer Stock Performance

NYSE PFE opened at $24.79 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $140.92 billion, a P/E ratio of 13.18, a P/E/G ratio of 0.82 and a beta of 0.55. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $29.17. The firm has a 50-day moving average price of $24.87 and a two-hundred day moving average price of $24.18.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.20. The firm had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $13.43 billion. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 EPS. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. Analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

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

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.