Mcrae Capital Management Inc. Sells 6,150 Shares of Pfizer Inc. (NYSE:PFE)

Mcrae Capital Management Inc. lessened its holdings in shares of Pfizer Inc. (NYSE:PFE) by 15.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 33,130 shares of the biopharmaceutical company’s stock after selling 6,150 shares during the quarter. Mcrae Capital Management Inc.’s holdings in Pfizer were worth $959,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PFE. Marshall Wace LLP increased its stake in Pfizer by 279.3% during the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock worth $150,481,000 after purchasing an additional 8,378,173 shares in the last quarter. Swedbank AB bought a new stake in shares of Pfizer during the first quarter worth $172,902,000. International Assets Investment Management LLC bought a new stake in shares of Pfizer during the third quarter worth $146,481,000. Pzena Investment Management LLC raised its holdings in shares of Pfizer by 181.6% during the first quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock worth $212,855,000 after acquiring an additional 4,947,000 shares during the period. Finally, Van ECK Associates Corp lifted its position in Pfizer by 21.8% in the 1st quarter. Van ECK Associates Corp now owns 15,813,328 shares of the biopharmaceutical company’s stock valued at $438,820,000 after acquiring an additional 2,829,178 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

Pfizer Stock Performance

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

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

Pfizer Dividend Announcement

The business also recently disclosed 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 is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 5.91%. Pfizer’s dividend payout ratio (DPR) is presently -2,800.00%.

Analysts Set New Price Targets

Several research firms have issued reports on PFE. Sanford C. Bernstein initiated coverage on Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target on the stock. Wells Fargo & Company lifted their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. UBS Group lifted their price objective on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Wednesday. Eight investment 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, Pfizer presently has an average rating of “Moderate Buy” and an average target price of $33.58.

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.