Convergence Financial LLC Sells 1,810 Shares of Pfizer Inc. (NYSE:PFE)

Convergence Financial LLC decreased its position in Pfizer Inc. (NYSE:PFE) by 16.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,092 shares of the biopharmaceutical company’s stock after selling 1,810 shares during the period. Convergence Financial LLC’s holdings in Pfizer were worth $241,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in Pfizer by 1.2% in the third quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock valued at $8,405,930,000 after acquiring an additional 3,405,539 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Pfizer by 11.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock valued at $3,766,366,000 after acquiring an additional 12,864,343 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Pfizer by 1.6% in the third quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock valued at $3,392,342,000 after acquiring an additional 1,855,419 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Pfizer by 22.4% during the third 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 buying an additional 6,977,587 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Pfizer by 28.5% during the fourth quarter. Van ECK Associates Corp now owns 21,286,805 shares of the biopharmaceutical company’s stock worth $564,739,000 after buying an additional 4,726,549 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of recent analyst reports. UBS Group reduced their target price on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Citigroup reduced their target price on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Wolfe Research initiated coverage on Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 target price on the stock. Finally, StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.92.

Insider Transactions at Pfizer

In other Pfizer news, Director Ronald E. Blaylock bought 19,457 shares of Pfizer stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the purchase, the director now owns 27,707 shares of the company’s stock, valued at $710,684.55. The trade was a 235.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Pfizer Trading Down 1.3 %

NYSE PFE opened at $26.40 on Thursday. The firm has a market cap of $149.63 billion, a P/E ratio of 18.73, a P/E/G ratio of 0.64 and a beta of 0.64. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54. The stock’s 50-day moving average is $26.34 and its 200-day moving average is $27.36. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

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

Pfizer Increases Dividend

The firm 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 dividend of $0.43 per share. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 6.51%. The ex-dividend date is Friday, January 24th. Pfizer’s payout ratio is currently 121.99%.

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.