Cypress Capital Group Trims Stock Position in Pfizer Inc. (NYSE:PFE)

Cypress Capital Group lowered its holdings in shares of Pfizer Inc. (NYSE:PFE) by 14.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 104,097 shares of the biopharmaceutical company’s stock after selling 17,217 shares during the quarter. Cypress Capital Group’s holdings in Pfizer were worth $2,762,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Pfizer during the 4th quarter valued at about $26,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Pfizer during the 4th quarter valued at about $28,000. Gladius Capital Management LP increased its position in shares of 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 last quarter. Noble Wealth Management PBC purchased a new stake in shares of Pfizer during the 4th quarter valued at about $31,000. Finally, Sierra Ocean LLC purchased a new stake in shares of Pfizer during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Pfizer

In other Pfizer news, Director Ronald E. Blaylock bought 19,457 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average cost of $25.65 per share, with a total value of $499,072.05. Following the completion of the acquisition, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is currently owned by insiders.

Pfizer Trading Down 2.0 %

PFE stock opened at $25.72 on Wednesday. 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 company has a market capitalization of $145.73 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 0.64 and a beta of 0.64. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54. The business has a 50 day simple moving average of $26.32 and a two-hundred day simple moving average of $27.28.

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

Pfizer Increases Dividend

The firm 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. The ex-dividend date of this dividend is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.69%. Pfizer’s dividend payout ratio (DPR) is 121.99%.

Pfizer Profile

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.