Patton Fund Management Inc. Reduces Equity Position in Pfizer Inc. (NYSE:PFE)



Patton Fund Management Inc. reduced its holdings in Pfizer Inc. (NYSE: PFEGet a rating) by 3.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,365 shares of the biopharmaceutical company after selling 2,249 shares during the period. Patton Fund Management Inc.’s holdings in Pfizer were worth $3,280,000 when it last filed with the SEC.

A number of other institutional investors also bought and sold shares of the company. Harbor Investment Advisory LLC increased its stake in Pfizer by 8.5% in the first quarter. Harbor Investment Advisory LLC now owns 23,148 shares of the biopharmaceutical company valued at $1,198,000 after purchasing an additional 1,819 shares last quarter. Marcum Wealth LLC increased its stake in Pfizer by 2.5% in the first quarter. Marcum Wealth LLC now owns 32,487 shares of the biopharmaceutical company valued at $1,682,000 after purchasing an additional 789 shares last quarter. Koshinski Asset Management Inc. increased its stake in Pfizer by 0.5% in the first quarter. Koshinski Asset Management Inc. now owns 58,873 shares of the biopharmaceutical company valued at $3,048,000 after buying 305 additional shares last quarter. Richelieu Gestion PLC acquired a new stake in Pfizer in the first quarter valued at $93,000. Finally, St. Johns Investment Management Company LLC increased its stake in Pfizer by 6.3% in the first quarter. St. Johns Investment Management Company LLC now owns 34,708 shares of the biopharmaceutical company valued at $1,797,000 after buying 2,068 additional shares last quarter. Institutional investors hold 66.50% of the company’s shares.

A number of analysts have recently commented on PFE shares. StockNews.com upgraded Pfizer from a “buy” rating to a “strong buy” rating in a Tuesday, April 19 research report. Citigroup raised its price target on Pfizer from $46.00 to $57.00 and gave the stock a “neutral” rating in a Tuesday, April 5 research report. Wells Fargo & Company reduced its target price on Pfizer from $60.00 to $55.00 in a Wednesday, May 4 research report. Barclays set a target price of $52.00 on Pfizer in a Monday June 27 research report. Finally, Morgan Stanley began covering Pfizer in a research report on Wednesday, April 6. They set an “equal weight” rating and a target price of $55.00 on the stock. Nine analysts gave the stock a hold rating, ten gave the stock a buy rating and one gave the stock a strong buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $57.26.

Shares of DFP opened at $52.31 on Monday. Pfizer Inc. has a 12-month low of $38.93 and a 12-month high of $61.71. The stock’s 50-day moving average is $50.66 and its two-hundred-day moving average is $52.03. The company has a market capitalization of $293.51 billion, a PE ratio of 12.00, a P/E/G ratio of 0.64 and a beta of 0.73. The company has a current ratio of 1.39, a quick ratio of 1.13 and a debt ratio of 0.43.

Pfizer (NYSE: PFEGet a rating) last reported quarterly earnings data on Tuesday, May 3. The biopharmaceutical company reported earnings per share of $1.62 for the quarter, missing consensus analyst estimates of $1.66 per ($0.04). Pfizer had a net margin of 26.97% and a return on equity of 38.29%. The company posted revenue of $25.66 billion in the quarter, compared to $24.73 billion expected by analysts. During the same period a year earlier, the company posted EPS of $0.93. Pfizer’s revenue for the quarter increased 76.8% compared to the same quarter last year. On average, sell-side analysts expect Pfizer Inc. to post EPS of 6.63 for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 6. Shareholders of record on Wednesday, June 29 will receive a dividend of $0.40. This represents a dividend of $1.60 on an annualized basis and a yield of 3.06%. The ex-date of this dividend is Thursday, July 28. Pfizer’s dividend payout ratio is currently 36.70%.

In other news, Executive Vice Chairman William R. Carapezzi, Jr. sold 32,908 shares of the company in a trade that took place Thursday, May 12. The stock was sold at an average price of $50.00, for a total transaction of $1,645,400.00. Following the sale, the executive vice president now owns 38,146 shares of the company, valued at approximately $1,907,300. The sale was disclosed in a filing with the Securities & Exchange Commission, available via this hyperlink. Also, please Jennifer B. Damico sold 4,000 shares of the company in a transaction that took place on Monday, May 16. The stock was sold at an average price of $50.50, for a total value of $202,000.00. As a result of the sale, the senior vice president now directly owns 15,064 shares of the company, valued at approximately $760,732. Disclosure of this sale can be found here. Insiders sold a total of 41,126 shares of the company worth $2,075,003 in the past three months. Company insiders hold 0.05% of the company’s shares.

Pfizer Profile (Get a rating)

Pfizer Inc discovers, develops, manufactures, markets, distributes and sells biopharmaceuticals worldwide. It offers drugs and vaccines in various therapeutic areas, including cardiovascular, metabolic and women’s health under the Premarin Family and Eliquis brands; biologics, small molecules, immunotherapies and biosimilars under the brands Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena and Braftovi; and sterile injectable and anti-infective drugs, and oral COVID-19 treatment under the brands Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga and Paxlovid.

Featured articles

Want to see which other hedge funds hold PFEs? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pfizer Inc. (NYSE: PFEGet a rating).

Institutional ownership by quarter for Pfizer (NYSE:PFE)



Get news and reviews for Pfizer Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Pfizer and related companies with MarketBeat.com’s FREE daily email newsletter.

Previous Total Cost of Fund Report – Coming to Investor Statements by 2025? - Fund management / REITs
Next Patton Fund Management Inc. makes new investment in Exxon Mobil Co. (NYSE:XOM)