Perkins Coie Trust Co Reduces Stock Position in Pfizer Inc. (NYSE:PFE)

Perkins Coie Trust Co lessened its holdings in shares of Pfizer Inc. (NYSE:PFE) by 12.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 99,736 shares of the biopharmaceutical company’s stock after selling 14,292 shares during the period. Perkins Coie Trust Co’s holdings in Pfizer were worth $2,645,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp increased its stake in shares of Pfizer by 1.2% during the third quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock valued at $8,405,930,000 after buying an additional 3,405,539 shares during the period. Charles Schwab Investment Management Inc. increased its position in Pfizer by 11.0% during the 3rd 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 purchasing an additional 12,864,343 shares during the period. Geode Capital Management LLC raised its holdings in Pfizer by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock worth $3,392,342,000 after purchasing an additional 1,855,419 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Pfizer by 22.4% in 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 worth $1,101,713,000 after purchasing an additional 6,977,587 shares during the period. Finally, Swiss National Bank boosted its stake in shares of Pfizer by 0.6% during the 3rd quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock valued at $486,762,000 after purchasing an additional 100,900 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Guggenheim decreased their price target on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Wolfe Research began coverage on Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price for the company. Evercore ISI raised Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein assumed coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective for the company. Finally, UBS Group reduced their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pfizer has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Pfizer Trading Down 0.7 %

NYSE:PFE opened at $26.30 on Friday. The stock has a market cap of $149.06 billion, a price-to-earnings ratio of 35.55, a PEG ratio of 0.64 and a beta of 0.64. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The company’s 50 day moving average price is $26.08 and its 200-day moving average price is $27.99. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same period last year, the business posted ($0.17) EPS. The company’s revenue was up 31.2% compared to the same quarter last year. On average, equities research analysts forecast that Pfizer Inc. will post 2.94 earnings per share 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 paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 annualized dividend and a yield of 6.54%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is currently 232.43%.

Insider Activity

In other news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. The trade was a 11.11 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.