MTM Investment Management LLC Reduces Stake in Pfizer Inc. (NYSE:PFE)

MTM Investment Management LLC reduced its position in Pfizer Inc. (NYSE:PFE) by 23.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 14,280 shares of the biopharmaceutical company’s stock after selling 4,354 shares during the period. MTM Investment Management LLC’s holdings in Pfizer were worth $379,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Raab & Moskowitz Asset Management LLC increased its stake in Pfizer by 10.2% in the 4th quarter. Raab & Moskowitz Asset Management LLC now owns 285,567 shares of the biopharmaceutical company’s stock valued at $7,576,000 after purchasing an additional 26,433 shares in the last quarter. Van ECK Associates Corp increased its position in Pfizer by 28.5% during the fourth quarter. Van ECK Associates Corp now owns 21,286,805 shares of the biopharmaceutical company’s stock worth $564,739,000 after buying an additional 4,726,549 shares in the last quarter. Harvey Capital Management Inc. purchased a new position in Pfizer during the fourth quarter worth $544,000. Kentucky Trust Co purchased a new position in Pfizer during the fourth quarter worth $1,666,000. Finally, Gladstone Institutional Advisory LLC increased its position in Pfizer by 9.0% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 164,432 shares of the biopharmaceutical company’s stock worth $4,362,000 after buying an additional 13,587 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PFE. Bank of America reissued a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. Guggenheim reissued a “buy” rating and set a $33.00 price target on shares of Pfizer in a research report on Monday. Truist Financial dropped their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.92.

Pfizer Price Performance

Shares of Pfizer stock opened at $25.46 on Thursday. The business’s fifty day moving average price is $26.28 and its 200 day moving average price is $27.65. The stock has a market capitalization of $144.28 billion, a P/E ratio of 18.06, a PEG ratio of 0.64 and a beta of 0.64. Pfizer Inc. has a twelve month low of $24.48 and a twelve 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 issued its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.15. The company had revenue of $17.76 billion for the quarter, compared to analysts’ expectations of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 earnings per share. As a group, research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The business also recently disclosed 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. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.76%. The ex-dividend date of this dividend is Friday, January 24th. This is a boost from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s payout ratio is currently 121.99%.

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.