Signet Financial Management LLC Sells 29,889 Shares of Pfizer Inc. (NYSE:PFE)

Signet Financial Management LLC reduced its position in shares of Pfizer Inc. (NYSE:PFE) by 71.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,702 shares of the biopharmaceutical company’s stock after selling 29,889 shares during the period. Signet Financial Management LLC’s holdings in Pfizer were worth $325,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Sage Investment Advisers LLC raised its position in Pfizer by 15.1% in the first quarter. Sage Investment Advisers LLC now owns 8,447 shares of the biopharmaceutical company’s stock worth $234,000 after acquiring an additional 1,109 shares during the period. Wealthcare Advisory Partners LLC raised its position in Pfizer by 149.7% in the first quarter. Wealthcare Advisory Partners LLC now owns 129,868 shares of the biopharmaceutical company’s stock worth $3,604,000 after acquiring an additional 77,868 shares during the period. Corundum Group Inc. raised its position in Pfizer by 80.0% in the first quarter. Corundum Group Inc. now owns 40,836 shares of the biopharmaceutical company’s stock worth $1,133,000 after acquiring an additional 18,153 shares during the period. Matrix Asset Advisors Inc. NY raised its position in shares of Pfizer by 33.2% in the first quarter. Matrix Asset Advisors Inc. NY now owns 277,879 shares of the biopharmaceutical company’s stock valued at $7,711,000 after purchasing an additional 69,339 shares during the period. Finally, St. Johns Investment Management Company LLC raised its position in shares of Pfizer by 6.0% in the first quarter. St. Johns Investment Management Company LLC now owns 31,674 shares of the biopharmaceutical company’s stock valued at $879,000 after purchasing an additional 1,804 shares during the period. 68.36% of the stock is owned by institutional investors.

Pfizer Trading Up 0.4 %

Shares of Pfizer stock traded up $0.12 during trading on Thursday, reaching $27.54. The company’s stock had a trading volume of 13,344,681 shares, compared to its average volume of 40,849,289. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $37.80. The company has a market cap of $156.06 billion, a price-to-earnings ratio of -458.26, a PEG ratio of 1.10 and a beta of 0.70. The firm’s 50-day moving average is $27.81 and its two-hundred day moving average is $27.69. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The company had revenue of $14.88 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the prior year, the company earned $1.23 EPS. The firm’s revenue was down 19.5% on a year-over-year basis. On average, sell-side analysts anticipate that Pfizer Inc. will post 2.38 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 6.10%. Pfizer’s dividend payout ratio is currently -2,799.53%.

Analyst Ratings Changes

Several research firms have recently issued reports on PFE. 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 report on Thursday, May 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Wednesday. Morgan Stanley boosted their price objective on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Finally, Argus cut shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Pfizer presently has an average rating of “Hold” and a consensus target price of $35.86.

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.