Signet Financial Management LLC Sells 2,710 Shares of Pfizer Inc. (NYSE:PFE)

Signet Financial Management LLC cut its position in shares of Pfizer Inc. (NYSE:PFE) by 24.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 8,273 shares of the biopharmaceutical company’s stock after selling 2,710 shares during the period. Signet Financial Management LLC’s holdings in Pfizer were worth $210,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mcdonald Partners LLC boosted its stake in Pfizer by 9.9% during the fourth quarter. Mcdonald Partners LLC now owns 110,296 shares of the biopharmaceutical company’s stock valued at $2,926,000 after buying an additional 9,963 shares during the last quarter. Bank of Jackson Hole Trust bought a new stake in shares of Pfizer in the 4th quarter valued at approximately $264,000. Harvey Capital Management Inc. bought a new stake in shares of Pfizer in the 4th quarter valued at approximately $544,000. ING Groep NV lifted its stake in shares of Pfizer by 48.6% in the 4th quarter. ING Groep NV now owns 1,013,230 shares of the biopharmaceutical company’s stock valued at $26,881,000 after purchasing an additional 331,403 shares during the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Pfizer in the 4th quarter valued at approximately $2,281,000. 68.36% of the stock is owned by institutional investors.

Pfizer Stock Up 1.4%

Shares of NYSE PFE opened at $24.30 on Wednesday. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $31.54. The company has a market cap of $138.13 billion, a P/E ratio of 17.23, a P/E/G ratio of 0.64 and a beta of 0.57. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The stock has a fifty day moving average price of $22.93 and a 200 day moving average price of $24.98.

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

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 9th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, May 9th. This represents a $1.72 annualized dividend and a dividend yield of 7.08%. Pfizer’s payout ratio is 124.64%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PFE. Cantor Fitzgerald began coverage on Pfizer in a research note on Tuesday, April 22nd. They issued a “neutral” rating and a $24.00 price objective for the company. Citigroup reaffirmed a “neutral” rating on shares of Pfizer in a research note on Thursday, March 27th. Hsbc Global Res raised Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $25.00 price target (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Finally, UBS Group increased their price target on Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.