Tortoise Investment Management LLC Decreases Holdings in Pfizer Inc. (NYSE:PFE)

Tortoise Investment Management LLC lowered its position in shares of Pfizer Inc. (NYSE:PFE) by 40.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,444 shares of the biopharmaceutical company’s stock after selling 2,382 shares during the period. Tortoise Investment Management LLC’s holdings in Pfizer were worth $99,000 at the end of the most recent reporting period.

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

Pfizer Stock Down 0.4 %

NYSE:PFE traded down $0.12 during midday trading on Friday, hitting $27.53. 29,461,921 shares of the stock were exchanged, compared to its average volume of 32,712,070. Pfizer Inc. has a one year low of $25.20 and a one year high of $40.36. The business has a 50-day moving average price of $27.56 and a two-hundred day moving average price of $27.79. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.26. The firm 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 firm’s quarterly revenue was down 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 earnings per share. On average, research analysts expect that Pfizer Inc. will post 2.38 EPS for the current year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 10th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 6.10%. The ex-dividend date of this dividend was Thursday, May 9th. Pfizer’s payout ratio is -2,799.53%.

Wall Street Analyst Weigh In

PFE has been the subject of several analyst reports. BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 price target (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Guggenheim assumed coverage on Pfizer in a research report on Friday, February 23rd. They issued a “buy” rating and a $36.00 target price on the stock. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Morgan Stanley raised their price objective on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Monday, April 15th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Pfizer presently has a consensus rating of “Hold” and a consensus price target of $35.86.

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.