Grassi Investment Management Lowers Position in Pfizer Inc. $PFE

Grassi Investment Management cut its holdings in Pfizer Inc. (NYSE:PFE) by 1.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,531 shares of the biopharmaceutical company’s stock after selling 621 shares during the quarter. Grassi Investment Management’s holdings in Pfizer were worth $837,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Capital Advisory Group Advisory Services LLC lifted its stake in shares of Pfizer by 2.9% during the 2nd quarter. Capital Advisory Group Advisory Services LLC now owns 13,542 shares of the biopharmaceutical company’s stock worth $328,000 after purchasing an additional 388 shares during the last quarter. Trust Co of the South lifted its position in shares of Pfizer by 1.5% during the second quarter. Trust Co of the South now owns 29,386 shares of the biopharmaceutical company’s stock valued at $712,000 after buying an additional 441 shares during the last quarter. Charter Oak Capital Management LLC boosted its holdings in shares of Pfizer by 4.3% in the 2nd quarter. Charter Oak Capital Management LLC now owns 10,663 shares of the biopharmaceutical company’s stock valued at $258,000 after buying an additional 444 shares in the last quarter. Ballentine Partners LLC grew its position in shares of Pfizer by 0.5% in the 2nd quarter. Ballentine Partners LLC now owns 93,228 shares of the biopharmaceutical company’s stock worth $2,260,000 after buying an additional 458 shares during the last quarter. Finally, Members Trust Co raised its stake in shares of Pfizer by 2.1% during the 1st quarter. Members Trust Co now owns 23,175 shares of the biopharmaceutical company’s stock worth $587,000 after acquiring an additional 467 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

Shares of PFE stock opened at $27.37 on Friday. The firm has a market capitalization of $155.59 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 0.88 and a beta of 0.55. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.85. The business has a fifty day moving average of $24.67 and a 200 day moving average of $24.15. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $30.43.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.20. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.The firm had revenue of $14.65 billion during the quarter, compared to analysts’ expectations of $13.43 billion. During the same period last year, the business posted $0.60 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. As a group, research analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

Analyst Ratings Changes

PFE has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Pfizer in a research report on Saturday, September 27th. UBS Group reiterated a “neutral” rating and set a $28.00 price objective on shares of Pfizer in a report on Wednesday. Morgan Stanley increased their price objective on Pfizer from $32.00 to $33.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Citigroup increased their price target on Pfizer from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Finally, Bank of America increased their price target on Pfizer from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Pfizer currently has an average rating of “Hold” and an average target price of $28.41.

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.