Asset Management Group Inc. Sells 5,241 Shares of Pfizer Inc. (NYSE:PFE)

Asset Management Group Inc. decreased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 10.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 46,637 shares of the biopharmaceutical company’s stock after selling 5,241 shares during the period. Asset Management Group Inc.’s holdings in Pfizer were worth $1,237,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PFE. Aspire Growth Partners LLC bought a new stake in Pfizer during the fourth quarter worth approximately $592,000. Ategra Capital Management LLC acquired a new stake in shares of Pfizer in the fourth quarter worth $1,326,000. Atalanta Sosnoff Capital LLC bought a new stake in shares of Pfizer during the 4th quarter worth $399,000. Accredited Wealth Management LLC acquired a new position in Pfizer in the 4th quarter valued at $137,000. Finally, Alden Global Capital LLC bought a new position in Pfizer in the 4th quarter worth $6,222,000. Institutional investors own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Citigroup reaffirmed a “neutral” rating on shares of Pfizer in a research report on Thursday, March 27th. UBS Group lifted their price target on Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday. Hsbc Global Res raised Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. Finally, The Goldman Sachs Group reissued 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. One analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

Pfizer Stock Performance

NYSE PFE opened at $24.19 on Friday. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $31.54. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The stock has a market cap of $137.19 billion, a P/E ratio of 17.16, a PEG ratio of 0.64 and a beta of 0.67. The company’s 50-day simple moving average is $24.34 and its 200 day simple moving average is $25.78.

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

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 9th will be paid a $0.43 dividend. The ex-dividend date is Friday, May 9th. This represents a $1.72 annualized dividend and a dividend yield of 7.11%. Pfizer’s dividend payout ratio is presently 124.64%.

Insider Transactions at Pfizer

In other news, Director Ronald E. Blaylock purchased 19,457 shares of Pfizer stock in a transaction on Thursday, February 13th. The shares were purchased at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the transaction, the director now directly owns 27,707 shares in the company, valued at approximately $710,684.55. This represents a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is owned by insiders.

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.