NorthCrest Asset Manangement LLC Reduces Position in Pfizer Inc. (NYSE:PFE)

NorthCrest Asset Manangement LLC trimmed its position in Pfizer Inc. (NYSE:PFE) by 30.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,951 shares of the biopharmaceutical company’s stock after selling 17,115 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Pfizer were worth $1,033,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PFE. Tallon Kerry Patrick purchased a new stake in shares of Pfizer in the fourth quarter worth about $509,000. Brighton Jones LLC increased its position in shares of Pfizer by 1,282.4% in the fourth quarter. Brighton Jones LLC now owns 666,318 shares of the biopharmaceutical company’s stock worth $17,677,000 after purchasing an additional 618,117 shares during the last quarter. Revolve Wealth Partners LLC increased its position in shares of Pfizer by 12.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 18,766 shares of the biopharmaceutical company’s stock worth $498,000 after purchasing an additional 2,087 shares during the last quarter. Asset Dedication LLC increased its position in shares of Pfizer by 107.4% in the fourth quarter. Asset Dedication LLC now owns 26,833 shares of the biopharmaceutical company’s stock worth $712,000 after purchasing an additional 13,896 shares during the last quarter. Finally, Strategic Blueprint LLC increased its position in shares of Pfizer by 2.0% in the fourth quarter. Strategic Blueprint LLC now owns 47,169 shares of the biopharmaceutical company’s stock worth $1,251,000 after purchasing an additional 942 shares during the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Up 1.1%

Shares of NYSE PFE opened at $23.44 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. Pfizer Inc. has a one year low of $20.92 and a one year high of $31.54. The stock has a market capitalization of $133.26 billion, a P/E ratio of 16.62, a PEG ratio of 0.64 and a beta of 0.58. The firm’s 50 day simple moving average is $23.16 and its two-hundred day simple moving average is $25.09.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The firm had revenue of $13.72 billion for the quarter, compared to analysts’ expectations of $14.43 billion. During the same quarter last year, the business earned $0.82 earnings per share. The business’s revenue was down 7.8% on a year-over-year basis. As a group, analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

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 issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 7.34%. The ex-dividend date of this dividend is Friday, May 9th. Pfizer’s dividend payout ratio is 124.64%.

Wall Street Analysts Forecast Growth

PFE has been the topic of several research analyst reports. Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. UBS Group upped their price objective on shares of Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. Guggenheim restated a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. Citigroup restated a “neutral” rating on shares of Pfizer in a research report on Thursday, March 27th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $25.00 price objective (down from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and a consensus price target 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.