Pfizer Inc. (NYSE:PFE) Stake Lowered by NewEdge Wealth LLC

NewEdge Wealth LLC reduced its stake in shares of Pfizer Inc. (NYSE:PFE) by 10.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 105,514 shares of the biopharmaceutical company’s stock after selling 11,743 shares during the period. NewEdge Wealth LLC’s holdings in Pfizer were worth $2,799,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Swedbank AB boosted its holdings in Pfizer by 0.7% in the third quarter. Swedbank AB now owns 5,745,831 shares of the biopharmaceutical company’s stock worth $166,284,000 after purchasing an additional 37,636 shares in the last quarter. Financial Advocates Investment Management boosted its holdings in Pfizer by 5.5% in the third quarter. Financial Advocates Investment Management now owns 44,909 shares of the biopharmaceutical company’s stock worth $1,300,000 after purchasing an additional 2,361 shares in the last quarter. United Asset Strategies Inc. boosted its holdings in Pfizer by 7.1% in the third quarter. United Asset Strategies Inc. now owns 32,274 shares of the biopharmaceutical company’s stock worth $934,000 after purchasing an additional 2,141 shares in the last quarter. Reston Wealth Management LLC bought a new stake in Pfizer in the third quarter worth $83,000. Finally, Aspen Wealth Strategies LLC boosted its holdings in Pfizer by 22.0% in the third quarter. Aspen Wealth Strategies LLC now owns 10,207 shares of the biopharmaceutical company’s stock worth $295,000 after purchasing an additional 1,843 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Pfizer news, Director Ronald E. Blaylock purchased 19,457 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average price of $25.65 per share, with a total value of $499,072.05. Following the completion of the transaction, the director now directly owns 27,707 shares of the company’s stock, valued at approximately $710,684.55. This trade represents a 235.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.06% of the company’s stock.

Pfizer Stock Up 1.3 %

Shares of PFE opened at $26.43 on Friday. The company has a 50-day simple moving average of $26.35 and a 200-day simple moving average of $27.34. The firm has a market capitalization of $149.78 billion, a P/E ratio of 18.74, a P/E/G ratio of 0.64 and a beta of 0.64. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.15. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The firm had revenue of $17.76 billion during the quarter, compared to analyst estimates of $17.26 billion. During the same quarter in the prior year, the business posted $0.10 earnings per share. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. On average, equities research analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 6.51%. The ex-dividend date is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is 121.99%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PFE shares. Guggenheim reiterated a “buy” rating and issued a $33.00 price objective on shares of Pfizer in a report on Monday, February 10th. UBS Group cut their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Citigroup cut their target price on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. StockNews.com lowered shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Finally, Truist Financial cut 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. One research 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.92.

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.