By otakuyassine3@gmail.com 
Grimes & Company Inc. lowered its stake in Pfizer Inc. (NYSE:PFE – Free Report) by 4.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 93,829 shares of the biopharmaceutical company’s stock after selling 4,097 shares during the period. Grimes & Company Inc.’s holdings in Pfizer were worth $2,489,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Retirement Wealth Solutions LLC acquired a new position in Pfizer during the 4th quarter valued at about $26,000. Gladius Capital Management LP boosted its stake in Pfizer by 102.8% during the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 38,015 shares during the period. Quarry LP acquired a new position in Pfizer during the 2nd quarter valued at about $31,000. Teachers Insurance & Annuity Association of America acquired a new position in Pfizer during the 3rd quarter valued at about $35,000. Finally, Joseph Group Capital Management boosted its stake in Pfizer by 168.3% during the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 771 shares during the period. Institutional investors own 68.36% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on PFE shares. Citigroup assumed coverage on shares of Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 target price for the company. Sanford C. Bernstein assumed coverage on shares of Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target for the company. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. StockNews.com lowered shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Finally, Truist Financial reduced their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $32.00.
Read Our Latest Report on Pfizer
Pfizer Stock Down 1.3 %
PFE stock opened at $26.10 on Friday. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54. The firm has a 50 day simple moving average of $26.11 and a 200 day simple moving average of $27.94. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The firm has a market cap of $147.89 billion, a PE ratio of 35.27, a P/E/G ratio of 0.64 and a beta of 0.64.
Pfizer (NYSE:PFE – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same quarter in the previous year, the business earned ($0.17) earnings per share. The firm’s revenue was up 31.2% compared to the same quarter last year. Equities research analysts forecast that Pfizer Inc. will post 2.94 earnings per share for the current fiscal year.
Pfizer Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.59%. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s payout ratio is currently 227.03%.
Insider Activity
In related news, Director Scott Gottlieb acquired 1,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were purchased at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $282,400. This represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is owned by company insiders.
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.
Recommended Stories
Receive News & Ratings for Pfizer Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Pfizer and related companies with MarketBeat.com’s FREE daily email newsletter.