Kovack Advisors Inc. Sells 6,187 Shares of Pfizer Inc. (NYSE:PFE)

Kovack Advisors Inc. cut its stake in shares of Pfizer Inc. (NYSE:PFE) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,923 shares of the biopharmaceutical company’s stock after selling 6,187 shares during the quarter. Kovack Advisors Inc.’s holdings in Pfizer were worth $2,837,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Washington Trust Advisors Inc. raised its stake in shares of Pfizer by 0.7% during the third quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company’s stock worth $1,424,000 after acquiring an additional 360 shares in the last quarter. PSI Advisors LLC raised its stake in shares of Pfizer by 1.4% during the fourth 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 raised its stake in shares of Pfizer by 10.5% during the third quarter. Western Pacific Wealth Management LP now owns 4,073 shares of the biopharmaceutical company’s stock worth $118,000 after acquiring an additional 386 shares in the last quarter. Waddell & Associates LLC raised its stake in shares of Pfizer by 1.6% during the third quarter. Waddell & Associates LLC now owns 24,978 shares of the biopharmaceutical company’s stock worth $723,000 after acquiring an additional 388 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its stake in shares of Pfizer by 1.0% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 38,706 shares of the biopharmaceutical company’s stock worth $1,027,000 after acquiring an additional 391 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Pfizer news, Director Ronald E. Blaylock bought 19,457 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was acquired at an average price of $25.65 per share, with a total value of $499,072.05. Following the transaction, the director now owns 27,707 shares in the company, valued at $710,684.55. This represents a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.06% of the stock is owned by insiders.

Pfizer Stock Performance

Shares of Pfizer stock opened at $26.40 on Thursday. The stock has a market cap of $149.63 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 0.64 and a beta of 0.64. The firm’s 50-day moving average is $26.34 and its 200 day moving average is $27.36. 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 current ratio of 1.00 and a quick ratio of 0.73.

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

Pfizer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be paid a $0.43 dividend. This is a boost 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 yield of 6.51%. Pfizer’s payout ratio is presently 121.99%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wolfe Research began coverage on shares of Pfizer in a research note on Friday, November 15th. They set an “underperform” rating and a $25.00 price target on the stock. Truist Financial decreased their target price on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. UBS Group decreased their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pfizer currently has an average rating of “Moderate Buy” and an average price target 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.