Forvis Mazars Wealth Advisors LLC Sells 13,185 Shares of Pfizer Inc. (NYSE:PFE)

Forvis Mazars Wealth Advisors LLC cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 20.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,493 shares of the biopharmaceutical company’s stock after selling 13,185 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Pfizer were worth $1,340,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wells Trecaso Financial Group LLC increased its holdings in Pfizer by 2.5% during the third quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after buying an additional 350 shares during the period. Washington Trust Advisors Inc. increased its holdings in shares of Pfizer by 0.7% in the 3rd quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company’s stock valued at $1,424,000 after acquiring an additional 360 shares during the period. PSI Advisors LLC raised its position in shares of Pfizer by 1.4% in the 4th quarter. PSI Advisors LLC now owns 27,823 shares of the biopharmaceutical company’s stock worth $738,000 after acquiring an additional 385 shares in the last quarter. Western Pacific Wealth Management LP boosted its position in Pfizer by 10.5% during the third quarter. Western Pacific Wealth Management LP now owns 4,073 shares of the biopharmaceutical company’s stock valued at $118,000 after purchasing an additional 386 shares in the last quarter. Finally, Waddell & Associates LLC grew its stake in Pfizer by 1.6% in the third quarter. Waddell & Associates LLC now owns 24,978 shares of the biopharmaceutical company’s stock valued at $723,000 after purchasing an additional 388 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Insider Buying and Selling

In other news, Director Ronald E. Blaylock acquired 19,457 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was bought at an average price 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 of the company’s stock, valued at approximately $710,684.55. This represents a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.06% of the stock is owned by corporate insiders.

Pfizer Stock Performance

PFE opened at $26.32 on Monday. 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 Inc. has a 12-month low of $24.48 and a 12-month high of $31.54. The firm has a 50 day moving average of $26.30 and a two-hundred day moving average of $27.40. The firm has a market capitalization of $149.14 billion, a PE ratio of 18.66, a P/E/G ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $17.26 billion. During the same quarter last year, the company posted $0.10 earnings per share. The firm’s revenue was up 24.7% compared to the same quarter last year. On average, analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be paid a $0.43 dividend. This is an increase from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.54%. Pfizer’s dividend payout ratio is presently 121.99%.

Analysts Set New Price Targets

PFE has been the topic of a number of recent analyst reports. StockNews.com cut shares of Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Bank of America reiterated a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a report on Tuesday, December 10th. Wolfe Research started coverage on Pfizer in a research note on Friday, November 15th. They set an “underperform” rating and a $25.00 target price on the stock. Finally, Citigroup decreased 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. One equities 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $31.92.

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.