Pfizer Inc. (NYSE:PFE) is Palouse Capital Management Inc.’s 10th Largest Position

Palouse Capital Management Inc. decreased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 136,952 shares of the biopharmaceutical company’s stock after selling 9,561 shares during the quarter. Pfizer accounts for approximately 2.4% of Palouse Capital Management Inc.’s portfolio, making the stock its 10th largest position. Palouse Capital Management Inc.’s holdings in Pfizer were worth $3,633,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Creative Planning lifted its holdings in shares of Pfizer by 17.1% in the 3rd quarter. Creative Planning now owns 1,820,731 shares of the biopharmaceutical company’s stock worth $52,692,000 after acquiring an additional 266,167 shares during the last quarter. Swedbank AB boosted its position in Pfizer by 0.7% during the third quarter. Swedbank AB now owns 5,745,831 shares of the biopharmaceutical company’s stock valued at $166,284,000 after buying an additional 37,636 shares during the period. Bleakley Financial Group LLC grew its stake in shares of Pfizer by 2.7% during the third quarter. Bleakley Financial Group LLC now owns 109,428 shares of the biopharmaceutical company’s stock valued at $3,167,000 after buying an additional 2,914 shares during the last quarter. Aaron Wealth Advisors LLC increased its holdings in shares of Pfizer by 41.7% in the third quarter. Aaron Wealth Advisors LLC now owns 16,576 shares of the biopharmaceutical company’s stock worth $480,000 after buying an additional 4,878 shares during the period. Finally, Richard W. Paul & Associates LLC boosted its holdings in Pfizer by 1.6% during the 3rd quarter. Richard W. Paul & Associates LLC now owns 31,692 shares of the biopharmaceutical company’s stock valued at $917,000 after acquiring an additional 494 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PFE shares. 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. Guggenheim reaffirmed a “buy” rating and issued a $33.00 target price on shares of Pfizer in a research note on Monday, February 10th. Wolfe Research started coverage on shares of Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price on the stock. StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Finally, 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.92.

Pfizer Price Performance

Shares of PFE stock opened at $25.50 on Friday. The stock has a market cap of $144.48 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 0.64 and a beta of 0.64. The business’s fifty day moving average is $26.28 and its 200 day moving average is $27.58. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last issued 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 company had revenue of $17.76 billion for the quarter, compared to analysts’ expectations of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 earnings per share. Research analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The business also recently announced 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 represents a $1.72 annualized dividend and a yield of 6.75%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s payout ratio is 121.99%.

Insiders Place Their Bets

In related news, Director Ronald E. Blaylock bought 19,457 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were acquired at an average cost 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 $710,684.55. The trade was a 235.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

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.