Carret Asset Management LLC Has $3.35 Million Holdings in Pfizer Inc. (NYSE:PFE)

Carret Asset Management LLC cut its position in Pfizer Inc. (NYSE:PFE) by 3.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,772 shares of the biopharmaceutical company’s stock after selling 3,750 shares during the quarter. Carret Asset Management LLC’s holdings in Pfizer were worth $3,350,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Olistico Wealth LLC acquired a new stake in Pfizer during the second quarter worth about $25,000. MFA Wealth Advisors LLC bought a new position in shares of Pfizer during the second quarter valued at $29,000. Quarry LP acquired a new position in Pfizer in the second quarter valued at about $31,000. Financial Connections Group Inc. bought a new stake in Pfizer during the 2nd quarter worth approximately $34,000. Finally, ESL Trust Services LLC acquired a new stake in shares of Pfizer in the first quarter valued at $37,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on PFE shares. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Citigroup started coverage on shares of Pfizer in a report on Friday. They set a “neutral” rating and a $30.00 price objective for the company. Barclays increased their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, Sanford C. Bernstein initiated coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.58.

Pfizer Stock Performance

Shares of NYSE PFE opened at $28.45 on Friday. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $31.54. The stock has a 50 day moving average of $29.08 and a 200-day moving average of $28.51. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $161.21 billion, a P/E ratio of -474.17, a P/E/G ratio of 1.01 and a beta of 0.67.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. During the same period last year, the business posted $0.67 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities research analysts predict that Pfizer Inc. will post 2.67 EPS for the current year.

Pfizer Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 5.91%. Pfizer’s payout ratio is presently -2,800.00%.

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.