Cullen Investment Group LTD. Reduces Stock Holdings in Pfizer Inc. (NYSE:PFE)

Cullen Investment Group LTD. decreased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 12.6% during the first quarter, HoldingsChannel reports. The fund owned 35,769 shares of the biopharmaceutical company’s stock after selling 5,154 shares during the quarter. Cullen Investment Group LTD.’s holdings in Pfizer were worth $906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mcdonald Partners LLC raised its holdings in Pfizer by 9.9% during the 4th quarter. Mcdonald Partners LLC now owns 110,296 shares of the biopharmaceutical company’s stock valued at $2,926,000 after acquiring an additional 9,963 shares during the period. Bank of Jackson Hole Trust bought a new stake in Pfizer during the 4th quarter valued at $264,000. Harvey Capital Management Inc. bought a new stake in Pfizer during the 4th quarter valued at $544,000. ING Groep NV raised its holdings in Pfizer by 48.6% during the 4th quarter. ING Groep NV now owns 1,013,230 shares of the biopharmaceutical company’s stock valued at $26,881,000 after acquiring an additional 331,403 shares during the period. Finally, WCM Investment Management LLC raised its holdings in Pfizer by 128.7% during the 4th quarter. WCM Investment Management LLC now owns 115,913 shares of the biopharmaceutical company’s stock valued at $3,062,000 after acquiring an additional 65,238 shares during the period. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Down 1.8%

PFE opened at $23.18 on Thursday. The stock has a market cap of $131.79 billion, a PE ratio of 16.44, a P/E/G ratio of 0.64 and a beta of 0.58. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $31.54. The business’s fifty day simple moving average is $23.22 and its 200 day simple moving average is $25.11.

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

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be paid a $0.43 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a yield of 7.42%. Pfizer’s dividend payout ratio is presently 124.64%.

Analyst Ratings Changes

A number of brokerages have issued reports on PFE. Cantor Fitzgerald began coverage on shares of Pfizer in a report on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 target price on the stock. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a report on Monday, March 10th. UBS Group upped their price target on shares of Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $25.00 price target (down previously from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $29.17.

Pfizer Company 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.