Palisade Asset Management LLC Sells 4,095 Shares of Pfizer Inc. (NYSE:PFE)

Palisade Asset Management LLC lessened its stake in shares of Pfizer Inc. (NYSE:PFE) by 8.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 47,235 shares of the biopharmaceutical company’s stock after selling 4,095 shares during the period. Palisade Asset Management LLC’s holdings in Pfizer were worth $1,360,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Clifford Swan Investment Counsel LLC raised 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 worth $12,007,000 after buying an additional 18,611 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Pfizer by 40.5% during the third 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 purchasing an additional 1,365,295 shares during the period. LifePlan Financial LLC purchased a new stake in Pfizer in the fourth quarter valued at approximately $255,000. ETF Store Inc. increased its holdings in Pfizer by 12.0% in the 3rd quarter. ETF Store Inc. now owns 6,803 shares of the biopharmaceutical company’s stock worth $214,000 after buying an additional 727 shares during the period. Finally, KLCM Advisors Inc. raised its position in Pfizer by 75.0% during the 4th quarter. KLCM Advisors Inc. now owns 173,793 shares of the biopharmaceutical company’s stock worth $5,004,000 after buying an additional 74,487 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

NYSE PFE traded up $0.50 during trading on Wednesday, reaching $28.27. 38,630,770 shares of the company traded hands, compared to its average volume of 43,437,793. The stock’s 50 day moving average price is $26.92 and its two-hundred day moving average price is $28.12. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.91. The company has a market cap of $160.08 billion, a price-to-earnings ratio of -466.42, a P/E/G ratio of 1.17 and a beta of 0.63. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $40.37.

Pfizer (NYSE:PFE) last posted its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.58%. The business had revenue of $14.88 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the prior year, the firm earned $1.23 EPS. The firm’s quarterly revenue was down 19.5% compared to the same quarter last year. As a group, analysts anticipate that Pfizer Inc. will post 2.39 EPS for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.94%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s dividend payout ratio is currently -2,799.53%.

Analysts Set New Price Targets

PFE has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Monday, April 15th. Morgan Stanley upped their target price on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Guggenheim began coverage on shares of Pfizer in a research note on Friday, February 23rd. They set a “buy” rating and a $36.00 target price on the stock. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $36.00 price target (up previously from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $36.00.

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.