Alpha Cubed Investments LLC Has $682,000 Stock Position in Pfizer Inc. (NYSE:PFE)

Alpha Cubed Investments LLC lessened its stake in shares of Pfizer Inc. (NYSE:PFE) by 10.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,694 shares of the biopharmaceutical company’s stock after selling 2,849 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Pfizer were worth $682,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in Pfizer by 11.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after purchasing an additional 12,864,343 shares during the last quarter. Marshall Wace LLP boosted its stake in Pfizer by 279.3% in the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after buying an additional 8,378,173 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Pfizer by 22.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock worth $1,101,713,000 after purchasing an additional 6,977,587 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Pfizer in the third quarter valued at approximately $146,481,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Pfizer by 164.2% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company’s stock worth $211,737,000 after purchasing an additional 4,546,809 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Trading Down 0.7 %

PFE opened at $26.30 on Tuesday. The company’s 50 day moving average is $26.08 and its 200-day moving average is $27.98. The company has a market cap of $149.06 billion, a P/E ratio of 35.55, a PEG ratio of 0.63 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 company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The firm had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period last year, the firm posted ($0.17) earnings per share. Equities research analysts predict 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. Shareholders of record on Friday, January 24th will be issued a $0.43 dividend. The ex-dividend date is Friday, January 24th. This represents a $1.72 annualized dividend and a yield of 6.54%. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is presently 227.03%.

Wall Street Analyst Weigh In

PFE has been the topic of several research reports. Truist Financial cut their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Bank of America reaffirmed a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. Sanford C. Bernstein started coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. Wolfe Research assumed coverage on shares of Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price for the company. Finally, Citigroup began coverage on shares of Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target on the stock. One 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 stock. Based on data from MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and an average price target of $32.00.

Insider Activity

In related news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

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.