Folger Nolan Fleming Douglas Capital Management Inc. Cuts Stake in Pfizer Inc. (NYSE:PFE)

Folger Nolan Fleming Douglas Capital Management Inc. reduced its stake in Pfizer Inc. (NYSE:PFE) by 8.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 30,101 shares of the biopharmaceutical company’s stock after selling 2,824 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Pfizer were worth $867,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Briaud Financial Planning Inc purchased a new position in shares of Pfizer in the 3rd quarter worth about $30,000. GoalVest Advisory LLC boosted its holdings in shares of Pfizer by 304.9% in the 4th quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 811 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new position in shares of Pfizer in the 3rd quarter worth about $34,000. VisionPoint Advisory Group LLC lifted its holdings in Pfizer by 52,350.0% during the third quarter. VisionPoint Advisory Group LLC now owns 1,049 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new stake in Pfizer during the fourth quarter valued at about $36,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Price Performance

PFE traded up $0.14 during midday trading on Friday, hitting $25.40. The stock had a trading volume of 46,526,457 shares, compared to its average volume of 34,120,812. The company has a market cap of $143.83 billion, a P/E ratio of 70.56, a price-to-earnings-growth ratio of 1.14 and a beta of 0.61. The business has a fifty day moving average of $26.96 and a 200 day moving average of $28.42. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.91. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $40.37.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.29. The business had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.37 billion. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. Pfizer’s revenue for the quarter was down 41.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.14 earnings per share. As a group, equities analysts forecast that Pfizer Inc. will post 2.24 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 6.61%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s dividend payout ratio is 466.67%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Monday, April 15th. Argus downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Guggenheim assumed coverage on shares of Pfizer in a report on Friday, February 23rd. They set a “buy” rating and a $36.00 price objective on the stock. Finally, TD Cowen downgraded shares of Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price objective on the stock. in a report on Thursday, January 4th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Pfizer currently has an average rating of “Hold” and an average target price of $36.33.

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.