Principle Wealth Partners LLC Lowers Stock Holdings in Pfizer Inc. (NYSE:PFE)

Principle Wealth Partners LLC cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 190,017 shares of the biopharmaceutical company’s stock after selling 3,657 shares during the quarter. Principle Wealth Partners LLC’s holdings in Pfizer were worth $5,041,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Pfizer in the fourth quarter worth approximately $26,000. Gladius Capital Management LP boosted its holdings in shares of Pfizer by 102.8% in 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. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Pfizer during the 3rd quarter valued at $35,000. Joseph Group Capital Management increased its holdings in shares of Pfizer by 168.3% during the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 771 shares during the last quarter. Finally, Sugar Maple Asset Management LLC acquired a new position in Pfizer in the fourth quarter valued at $43,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

PFE has been the subject of several research analyst reports. Citigroup dropped their price target on Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Wolfe Research began coverage on shares of Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target on the stock. Guggenheim reiterated a “buy” rating and set a $33.00 price objective on shares of Pfizer in a research note on Monday. Bank of America reissued a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. Finally, Truist Financial decreased their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $31.92.

Pfizer Stock Up 0.5 %

Shares of NYSE PFE opened at $25.87 on Tuesday. The firm has a market cap of $146.58 billion, a price-to-earnings ratio of 18.34, 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 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’s 50-day simple moving average is $26.28 and its 200-day simple moving average is $27.72.

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

Pfizer Increases Dividend

The business also recently disclosed 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 is a positive change from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 6.65%. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s dividend payout ratio (DPR) is currently 121.99%.

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.