Global Financial Private Client LLC Cuts Position in Pfizer Inc. (NYSE:PFE)

Global Financial Private Client LLC trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 12.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,431 shares of the biopharmaceutical company’s stock after selling 1,034 shares during the quarter. Global Financial Private Client LLC’s holdings in Pfizer were worth $197,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. State Street Corp grew its stake in Pfizer by 1.2% in the 3rd quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock valued at $8,405,930,000 after purchasing an additional 3,405,539 shares during the period. Charles Schwab Investment Management Inc. grew its position in Pfizer by 11.0% during 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 buying an additional 12,864,343 shares during the period. Geode Capital Management LLC grew its position in Pfizer by 1.6% during 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 buying an additional 1,855,419 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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, Swiss National Bank boosted its stake in Pfizer by 0.6% in the third quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock valued at $486,762,000 after acquiring an additional 100,900 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors.

Pfizer Price Performance

PFE stock opened at $26.41 on Wednesday. The firm has a 50 day moving average of $26.13 and a 200-day moving average of $28.03. The firm has a market capitalization of $149.67 billion, a P/E ratio of 35.69, a price-to-earnings-growth ratio of 0.63 and a beta of 0.64. 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.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $14.92 billion. During the same period in the previous year, the business earned ($0.17) EPS. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. As a group, sell-side analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The firm also recently declared 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. The ex-dividend date is Friday, January 24th. This represents a $1.72 annualized dividend and a dividend yield of 6.51%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio (DPR) is presently 232.43%.

Analyst Ratings Changes

Several brokerages have recently issued reports on PFE. Citigroup initiated coverage on shares of Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 price target for the company. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Sanford C. Bernstein began coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. Bank of America reiterated a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research note on Tuesday, December 10th. Finally, Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Insider Activity

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

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.