Bourne Lent Asset Management Inc. Reduces Position in Pfizer Inc. (NYSE:PFE)

Bourne Lent Asset Management Inc. reduced its holdings in Pfizer Inc. (NYSE:PFEFree Report) by 15.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,805 shares of the biopharmaceutical company’s stock after selling 4,000 shares during the period. Bourne Lent Asset Management Inc.’s holdings in Pfizer were worth $605,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Clifford Swan Investment Counsel LLC grew its holdings in shares of Pfizer by 4.7% in the fourth quarter. Clifford Swan Investment Counsel LLC now owns 417,070 shares of the biopharmaceutical company’s stock valued at $12,007,000 after purchasing an additional 18,611 shares during the period. Adage Capital Partners GP L.L.C. increased its holdings in shares of Pfizer by 40.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,739,672 shares of the biopharmaceutical company’s stock worth $157,215,000 after buying an additional 1,365,295 shares during the last quarter. LifePlan Financial LLC acquired a new position in Pfizer in the fourth quarter valued at approximately $255,000. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in Pfizer in the fourth quarter worth approximately $16,166,000. Finally, KLCM Advisors Inc. increased its stake in Pfizer by 75.0% during the fourth quarter. KLCM Advisors Inc. now owns 173,793 shares of the biopharmaceutical company’s stock worth $5,004,000 after acquiring an additional 74,487 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PFE has been the subject of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Monday, June 17th. BMO Capital Markets reissued an “outperform” rating and issued a $36.00 price target (up from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Argus cut shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, Morgan Stanley boosted their target price on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Pfizer presently has a consensus rating of “Hold” and a consensus price target of $35.86.

Read Our Latest Analysis on PFE

Pfizer Stock Down 1.4 %

Shares of PFE stock traded down $0.39 during trading hours on Tuesday, reaching $27.97. 14,316,162 shares of the stock were exchanged, compared to its average volume of 41,061,055. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $37.80. The business’s fifty day moving average is $27.72 and its two-hundred day moving average is $27.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78. The firm has a market capitalization of $158.49 billion, a P/E ratio of -470.09, a P/E/G ratio of 1.09 and a beta of 0.70.

Pfizer (NYSE:PFEGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The business had revenue of $14.88 billion for the quarter, compared to analyst estimates of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The company’s revenue was down 19.5% on a year-over-year basis. During the same period last year, the business earned $1.23 EPS. As a group, research analysts expect that Pfizer Inc. will post 2.37 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 10th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 6.01%. The ex-dividend date was Thursday, May 9th. Pfizer’s dividend payout ratio (DPR) is -2,799.53%.

Pfizer Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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