First PREMIER Bank Reduces Position in Pfizer Inc. (NYSE:PFE)

First PREMIER Bank decreased its holdings in Pfizer Inc. (NYSE:PFE) by 11.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,117 shares of the biopharmaceutical company’s stock after selling 4,023 shares during the quarter. First PREMIER Bank’s holdings in Pfizer were worth $852,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp raised its position in shares of 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 in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Pfizer by 11.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after buying an additional 12,864,343 shares during the last quarter. Geode Capital Management LLC raised its holdings in Pfizer by 1.6% in 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 acquiring an additional 1,855,419 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Pfizer by 22.4% during the 3rd 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 valued at $1,101,713,000 after acquiring an additional 6,977,587 shares during the last quarter. Finally, Swiss National Bank grew its holdings in Pfizer by 0.6% during the 3rd quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock worth $486,762,000 after acquiring an additional 100,900 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Down 2.4 %

Shares of Pfizer stock opened at $26.01 on Thursday. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54. The company has a market capitalization of $147.40 billion, a P/E ratio of 35.15, a PEG ratio of 0.64 and a beta of 0.64. The business’s fifty day moving average price is $26.07 and its two-hundred day moving average price is $27.96. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

Pfizer (NYSE:PFE) last posted its quarterly earnings data 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 business had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.17) earnings per share. As a group, research analysts forecast that Pfizer Inc. will post 2.94 EPS for the current year.

Pfizer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be issued a dividend of $0.43 per share. This is a boost from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 annualized dividend and a yield of 6.61%. Pfizer’s payout ratio is presently 227.03%.

Insiders Place Their Bets

In other news, Director Scott Gottlieb acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were bought at an average price 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 approximately $282,400. This represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PFE has been the topic of a number of recent analyst reports. Guggenheim cut their target price 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. StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Sanford C. Bernstein assumed coverage on Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price for the company. Citigroup assumed coverage on Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target on the stock. Finally, Bank of America restated a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a research note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

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.