Carnegie Lake Advisors LLC Buys 800 Shares of Pfizer Inc. (NYSE:PFE)

Carnegie Lake Advisors LLC raised its position in shares of Pfizer Inc. (NYSE:PFE) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,364 shares of the biopharmaceutical company’s stock after acquiring an additional 800 shares during the period. Carnegie Lake Advisors LLC’s holdings in Pfizer were worth $1,655,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PFE. Ritholtz Wealth Management raised its holdings in shares of Pfizer by 26.3% in the third quarter. Ritholtz Wealth Management now owns 55,267 shares of the biopharmaceutical company’s stock worth $1,599,000 after buying an additional 11,519 shares during the period. Retirement Planning Group LLC bought a new position in Pfizer in the 3rd quarter valued at $354,000. Exchange Traded Concepts LLC increased its stake in Pfizer by 117.0% in the third quarter. Exchange Traded Concepts LLC now owns 69,178 shares of the biopharmaceutical company’s stock worth $2,002,000 after purchasing an additional 37,293 shares during the period. Willis Investment Counsel lifted its position in shares of Pfizer by 0.5% during the third quarter. Willis Investment Counsel now owns 1,297,206 shares of the biopharmaceutical company’s stock worth $37,541,000 after purchasing an additional 6,966 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in shares of Pfizer by 11.4% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 2,286,226 shares of the biopharmaceutical company’s stock valued at $66,163,000 after purchasing an additional 233,900 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

Shares of Pfizer stock opened at $25.87 on Tuesday. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54. The company has a market capitalization of $146.58 billion, a PE ratio of 18.34, a P/E/G ratio of 0.64 and a beta of 0.64. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The company has a 50-day simple moving average of $26.28 and a two-hundred day simple moving average of $27.72.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.15. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The company had revenue of $17.76 billion during the quarter, compared to analysts’ expectations of $17.26 billion. During the same quarter in the prior year, the company posted $0.10 earnings per share. Pfizer’s revenue for the quarter was up 24.7% compared to the same quarter last year. Research analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 6.65%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s payout ratio is 121.99%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PFE shares. UBS Group decreased their price objective on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Wolfe Research assumed coverage on shares of Pfizer in a research note on Friday, November 15th. They set an “underperform” rating and a $25.00 price target for the company. Bank of America reissued a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a research note on Tuesday, December 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Wednesday, October 23rd. Finally, Citigroup dropped their price target on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Pfizer has a consensus rating of “Moderate Buy” and a consensus target price of $31.92.

Pfizer 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.