Putnam Investments LLC Sells 175,193 Shares of Pfizer Inc. (NYSE:PFE)

Posted by Defense World Staff on Jun 13th, 2023

Putnam Investments LLC decreased its position in shares of Pfizer Inc. (NYSE:PFE – Get Rating) by 8.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,814,918 shares of the biopharmaceutical company’s stock after selling 175,193 shares during the period. Putnam Investments LLC’s holdings in Pfizer were worth $92,996,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Lam Group Inc. purchased a new position in Pfizer in the 4th quarter worth about $25,000. Worth Asset Management LLC purchased a new position in Pfizer in the 1st quarter worth about $29,000. My Personal CFO LLC purchased a new position in Pfizer in the 4th quarter worth about $32,000. Mendota Financial Group LLC purchased a new position in Pfizer in the 4th quarter worth about $33,000. Finally, Delos Wealth Advisors LLC increased its position in Pfizer by 100.0% during the 3rd quarter. Delos Wealth Advisors LLC now owns 800 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 400 shares during the period. Institutional investors own 67.62% of the company’s stock.

Pfizer Stock Up 2.4 %

PFE stock opened at $39.89 on Tuesday. The firm has a 50 day moving average of $39.08 and a 200 day moving average of $43.30. The stock has a market capitalization of $225.19 billion, a PE ratio of 7.85, a price-to-earnings-growth ratio of 1.29 and a beta of 0.64. The company has a quick ratio of 1.11, a current ratio of 1.37 and a debt-to-equity ratio of 0.31. Pfizer Inc. has a 52 week low of $36.17 and a 52 week high of $54.93.

Pfizer (NYSE:PFE – Get Rating) last released its earnings results on Tuesday, May 2nd. The biopharmaceutical company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.23. The company had revenue of $18.28 billion during the quarter, compared to analysts’ expectations of $16.49 billion. Pfizer had a net margin of 31.25% and a return on equity of 37.53%. Pfizer’s revenue for the quarter was down 28.8% on a year-over-year basis. During the same period last year, the business earned $1.62 EPS. Sell-side analysts forecast that Pfizer Inc. will post 3.35 earnings per share for the current year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 9th. Shareholders of record on Friday, May 12th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date of this dividend was Thursday, May 11th. Pfizer’s dividend payout ratio is presently 32.28%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PFE. Jefferies Financial Group began coverage on shares of Pfizer in a research report on Monday, March 6th. They set a “hold” rating and a $43.00 target price on the stock. Barclays cut their target price on shares of Pfizer from $43.00 to $40.00 in a research report on Wednesday, May 3rd. StockNews.com began coverage on shares of Pfizer in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Bank of America lowered their price target on shares of Pfizer from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, April 21st. Finally, Daiwa Capital Markets cut shares of Pfizer from an “outperform” rating to a “neutral” rating and set a $38.00 price target on the stock. in a report on Thursday, May 11th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Pfizer currently has an average rating of “Hold” and a consensus price target of $47.33.

Insiders Place Their Bets

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction on Monday, May 8th. The stock was bought at an average cost of $38.58 per share, with a total value of $38,580.00. Following the transaction, the director now owns 6,000 shares of the company’s stock, valued at approximately $231,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction on Monday, May 8th. The stock was bought at an average cost of $38.58 per share, with a total value of $38,580.00. Following the transaction, the director now owns 6,000 shares of the company’s stock, valued at approximately $231,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Pfizer Inc purchased 1,811,594 shares of Pfizer stock in a transaction on Friday, March 17th. The shares were acquired at an average cost of $2.76 per share, with a total value of $4,999,999.44. Following the completion of the transaction, the insider now directly owns 5,952,263 shares in the company, valued at approximately $16,428,245.88. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 1,813,594 shares of company stock valued at $5,076,999. 0.05% of the stock is owned by insiders.

Pfizer Company Profile

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Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, 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.