Sheets Smith Wealth Management Trims Position in Pfizer Inc. (NYSE:PFE)

Sheets Smith Wealth Management reduced its holdings in shares of Pfizer Inc. (NYSE:PFEFree Report) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,405 shares of the biopharmaceutical company’s stock after selling 532 shares during the period. Sheets Smith Wealth Management’s holdings in Pfizer were worth $1,417,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thrivent Financial for Lutherans increased its stake in Pfizer by 2.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 739,236 shares of the biopharmaceutical company’s stock worth $20,684,000 after buying an additional 20,140 shares in the last quarter. ProShare Advisors LLC boosted its stake in Pfizer by 7.3% in the 2nd quarter. ProShare Advisors LLC now owns 845,638 shares of the biopharmaceutical company’s stock worth $23,661,000 after purchasing an additional 57,825 shares during the period. Providence Capital Advisors LLC grew its holdings in Pfizer by 1.7% during the 2nd quarter. Providence Capital Advisors LLC now owns 113,143 shares of the biopharmaceutical company’s stock valued at $3,166,000 after buying an additional 1,855 shares in the last quarter. Cheviot Value Management LLC raised its position in shares of Pfizer by 5.5% during the second quarter. Cheviot Value Management LLC now owns 427,539 shares of the biopharmaceutical company’s stock valued at $11,963,000 after buying an additional 22,112 shares during the last quarter. Finally, Samlyn Capital LLC lifted its holdings in shares of Pfizer by 41.8% in the second quarter. Samlyn Capital LLC now owns 4,906,703 shares of the biopharmaceutical company’s stock worth $137,290,000 after buying an additional 1,446,582 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wolfe Research began coverage on shares of Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target on the stock. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Sanford C. Bernstein began coverage on Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective on the stock. Citigroup started coverage on shares of Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price for the company. Finally, Guggenheim decreased their price target on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and an average price target of $32.00.

Read Our Latest Analysis on Pfizer

Pfizer Stock Up 1.2 %

Pfizer stock opened at $26.63 on Wednesday. The business’s 50-day simple moving average is $26.08 and its two-hundred day simple moving average is $27.98. The company has a market cap of $150.89 billion, a PE ratio of 35.98, a PEG ratio of 0.63 and a beta of 0.64. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week 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.

Pfizer (NYSE:PFEGet Free Report) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same quarter in the prior year, the business earned ($0.17) earnings per share. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. Equities analysts anticipate that Pfizer Inc. will post 2.94 EPS for the current year.

Pfizer Increases Dividend

The firm 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 $0.43 dividend. 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 6.46%. The ex-dividend date is Friday, January 24th. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Insider Activity

In related news, Director Scott Gottlieb purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This represents a 11.11 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.06% of the company’s stock.

Pfizer Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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