Pfizer Inc. (NYSE:PFE) Shares Sold by Wealth Effects LLC

Wealth Effects LLC lowered its holdings in shares of Pfizer Inc. (NYSE:PFE) by 13.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,488 shares of the biopharmaceutical company’s stock after selling 8,634 shares during the period. Wealth Effects LLC’s holdings in Pfizer were worth $1,525,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PFE. Wells Trecaso Financial Group LLC raised its position in shares of Pfizer by 2.5% during the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock worth $416,000 after purchasing an additional 350 shares during the last quarter. Washington Trust Advisors Inc. increased its position in Pfizer by 0.7% during the third quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company’s stock worth $1,424,000 after buying an additional 360 shares in the last quarter. Cullen Investment Group LTD. raised its holdings in shares of Pfizer by 0.9% in the third quarter. Cullen Investment Group LTD. now owns 42,677 shares of the biopharmaceutical company’s stock worth $1,235,000 after acquiring an additional 377 shares during the last quarter. PSI Advisors LLC lifted its position in shares of Pfizer by 1.4% in the fourth quarter. PSI Advisors LLC now owns 27,823 shares of the biopharmaceutical company’s stock valued at $738,000 after acquiring an additional 385 shares in the last quarter. Finally, Western Pacific Wealth Management LP boosted its stake in shares of Pfizer by 10.5% during the third quarter. Western Pacific Wealth Management LP now owns 4,073 shares of the biopharmaceutical company’s stock valued at $118,000 after acquiring an additional 386 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on PFE. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. Guggenheim decreased their target price on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Bank of America restated a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a report on Tuesday, December 10th. Finally, Evercore ISI raised Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $31.92.

Pfizer Stock Down 0.3 %

Shares of NYSE:PFE opened at $26.79 on Wednesday. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. The stock has a 50-day simple moving average of $26.15 and a 200-day simple moving average of $27.92. 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 stock has a market capitalization of $151.79 billion, a P/E ratio of 36.20, a PEG ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same period in the previous year, the firm earned ($0.17) earnings per share. Pfizer’s revenue for the quarter was up 31.2% on a year-over-year basis. Equities analysts forecast that Pfizer Inc. will post 2.94 earnings per share for the current year.

Pfizer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 6.42%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s dividend payout ratio is 227.03%.

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.