Pfizer Inc. (NYSE:PFE) Stock Position Decreased by Abbot Financial Management Inc.

Abbot Financial Management Inc. cut its stake in shares of Pfizer Inc. (NYSE:PFE) by 29.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,812 shares of the biopharmaceutical company’s stock after selling 10,936 shares during the period. Abbot Financial Management Inc.’s holdings in Pfizer were worth $685,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Retirement Wealth Solutions LLC purchased a new stake in Pfizer during the fourth quarter valued at about $26,000. Gladius Capital Management LP raised its holdings in shares of Pfizer by 102.8% during the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 38,015 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Pfizer in the 4th quarter valued at approximately $28,000. Noble Wealth Management PBC acquired a new position in Pfizer in the 4th quarter worth approximately $31,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in Pfizer during the 3rd quarter valued at $35,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on PFE shares. Citigroup decreased their target price on Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Truist Financial decreased their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Wolfe Research started coverage on shares of Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 price target for the company. Finally, Bank of America reiterated a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Price Performance

Shares of NYSE:PFE opened at $25.72 on Wednesday. The stock has a market capitalization of $145.73 billion, a P/E ratio of 18.24, a P/E/G ratio of 0.64 and a beta of 0.64. The business has a 50-day moving average of $26.32 and a two-hundred day moving average of $27.28. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.15. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm had revenue of $17.76 billion during the quarter, compared to analyst estimates of $17.26 billion. During the same period in the previous year, the company earned $0.10 EPS. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. On average, equities research analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 6.69%. The ex-dividend date is Friday, January 24th. This is an increase from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio (DPR) is 121.99%.

Insiders Place Their Bets

In other Pfizer news, Director Ronald E. Blaylock purchased 19,457 shares of the stock in a transaction dated Thursday, February 13th. The shares were bought at an average cost of $25.65 per share, with a total value of $499,072.05. Following the completion of the transaction, the director now owns 27,707 shares in the company, valued at $710,684.55. This trade represents a 235.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

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.