Portside Wealth Group LLC Decreases Position in Pfizer Inc. (NYSE:PFE)

Portside Wealth Group LLC decreased its position in shares of Pfizer Inc. (NYSE:PFE) by 1.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 55,325 shares of the biopharmaceutical company’s stock after selling 1,053 shares during the period. Portside Wealth Group LLC’s holdings in Pfizer were worth $1,601,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PFE. Ieq Capital LLC boosted its position in shares of Pfizer by 15.6% during the 2nd quarter. Ieq Capital LLC now owns 224,636 shares of the biopharmaceutical company’s stock worth $6,285,000 after acquiring an additional 30,388 shares in the last quarter. Callan Capital LLC lifted its stake in Pfizer by 16.7% during the second quarter. Callan Capital LLC now owns 17,845 shares of the biopharmaceutical company’s stock worth $499,000 after purchasing an additional 2,551 shares during the last quarter. Bridges Investment Management Inc. boosted its holdings in Pfizer by 81.9% in the second quarter. Bridges Investment Management Inc. now owns 84,412 shares of the biopharmaceutical company’s stock valued at $2,362,000 after purchasing an additional 38,012 shares in the last quarter. Sound Shore Management Inc. CT increased its stake in Pfizer by 10.9% in the second quarter. Sound Shore Management Inc. CT now owns 2,836,057 shares of the biopharmaceutical company’s stock valued at $79,353,000 after purchasing an additional 279,825 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in Pfizer by 2.8% in the second quarter. Thrivent Financial for Lutherans now owns 739,236 shares of the biopharmaceutical company’s stock valued at $20,684,000 after acquiring an additional 20,140 shares in the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Scott Gottlieb purchased 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. This represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

PFE has been the subject of several recent research reports. Citigroup started 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 initiated coverage on shares of Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective on the stock. Guggenheim dropped their price target on Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Finally, UBS Group dropped their price objective on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

Pfizer Stock Down 0.7 %

PFE opened at $26.30 on Friday. 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. The company has a market capitalization of $149.06 billion, a P/E ratio of 35.55, a P/E/G ratio of 0.64 and a beta of 0.64. The firm’s fifty day moving average price is $26.08 and its two-hundred day moving average price is $27.99.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same period in the previous year, the business earned ($0.17) EPS. Pfizer’s revenue was up 31.2% compared to the same quarter last year. On average, analysts anticipate that Pfizer Inc. will post 2.94 EPS for the current year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 6.54%. 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. Pfizer’s payout ratio is currently 232.43%.

Pfizer Company 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.