Corundum Group Inc. Sells 28,939 Shares of Pfizer Inc. (NYSE:PFE)

Corundum Group Inc. reduced its position in Pfizer Inc. (NYSE:PFE) by 67.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,802 shares of the biopharmaceutical company’s stock after selling 28,939 shares during the quarter. Corundum Group Inc.’s holdings in Pfizer were worth $366,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Retirement Wealth Solutions LLC bought a new stake in shares of Pfizer in the 4th quarter valued at about $26,000. Gladius Capital Management LP raised its stake in Pfizer by 102.8% in the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 38,015 shares in the last quarter. Quarry LP purchased a new stake in Pfizer during the second quarter worth $31,000. Teachers Insurance & Annuity Association of America bought a new stake in Pfizer during the 3rd quarter valued at $35,000. Finally, Joseph Group Capital Management increased its holdings in shares of Pfizer by 168.3% in the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 771 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PFE shares. UBS Group decreased their price objective on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Wolfe Research assumed coverage on shares of Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective on the stock. Truist Financial decreased their target price on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Pfizer has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Pfizer Stock Down 0.7 %

PFE stock opened at $26.30 on Monday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The firm’s fifty day simple moving average is $26.08 and its 200-day simple moving average is $27.99. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54. The company has a market capitalization of $149.06 billion, a P/E ratio of 35.55, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion for 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%. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.17) EPS. As a group, equities research analysts forecast that Pfizer Inc. will post 2.94 earnings per share for the current year.

Pfizer Increases Dividend

The business 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 is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 6.54%. Pfizer’s payout ratio is presently 227.03%.

Insiders Place Their Bets

In other news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction dated 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 purchase, the director now directly owns 10,000 shares in the company, valued at $282,400. The trade was a 11.11 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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.