Independence Bank of Kentucky Raises Holdings in Pfizer Inc. (NYSE:PFE)

Independence Bank of Kentucky increased its position in Pfizer Inc. (NYSE:PFE) by 4.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 73,913 shares of the biopharmaceutical company’s stock after purchasing an additional 3,457 shares during the period. Independence Bank of Kentucky’s holdings in Pfizer were worth $1,961,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PFE. Retirement Wealth Solutions LLC purchased a new stake in Pfizer in the fourth quarter valued at approximately $26,000. Gladius Capital Management LP raised its position in 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. Quarry LP acquired a new stake in Pfizer during the 2nd quarter worth $31,000. Teachers Insurance & Annuity Association of America purchased a new position in Pfizer during the 3rd quarter worth $35,000. Finally, Joseph Group Capital Management increased its stake in Pfizer by 168.3% in the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 771 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of research reports. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Wolfe Research initiated coverage on Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price on the stock. Bank of America restated a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research note on Tuesday, December 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Wednesday, October 23rd. Finally, Guggenheim cut their price objective on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. One investment 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.92.

Pfizer Trading Down 1.5 %

Shares of Pfizer stock opened at $26.51 on Friday. The company has a 50-day moving average of $26.27 and a two-hundred day moving average of $27.87. Pfizer Inc. has a 12-month low of $24.48 and a 12-month high of $31.54. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The stock has a market cap of $150.20 billion, a PE ratio of 35.82, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.42. The firm had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. Pfizer’s quarterly revenue was up 31.2% on a year-over-year basis. During the same period last year, the business posted ($0.17) EPS. On average, research analysts anticipate that Pfizer Inc. will post 2.96 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. Stockholders of record on Friday, January 24th will be given a $0.43 dividend. The ex-dividend date is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.49%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio (DPR) is currently 232.44%.

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.