Klingenstein Fields & Co. LP Lowers Stake in Pfizer Inc. (NYSE:PFE)

Klingenstein Fields & Co. LP lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 21.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,509 shares of the biopharmaceutical company’s stock after selling 3,753 shares during the period. Klingenstein Fields & Co. LP’s holdings in Pfizer were worth $358,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in PFE. Wells Trecaso Financial Group LLC lifted its stake in Pfizer by 2.5% during the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after acquiring an additional 350 shares during the period. Washington Trust Advisors Inc. lifted its stake in Pfizer by 0.7% during the 3rd quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company’s stock valued at $1,424,000 after acquiring an additional 360 shares during the period. PSI Advisors LLC lifted its stake in Pfizer by 1.4% during the 4th quarter. PSI Advisors LLC now owns 27,823 shares of the biopharmaceutical company’s stock valued at $738,000 after acquiring an additional 385 shares during the period. Western Pacific Wealth Management LP lifted its stake in Pfizer by 10.5% during the 3rd quarter. Western Pacific Wealth Management LP now owns 4,073 shares of the biopharmaceutical company’s stock valued at $118,000 after acquiring an additional 386 shares during the period. Finally, Waddell & Associates LLC lifted its stake in Pfizer by 1.6% during the 3rd quarter. Waddell & Associates LLC now owns 24,978 shares of the biopharmaceutical company’s stock valued at $723,000 after acquiring an additional 388 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PFE. Truist Financial decreased their price objective on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Wolfe Research initiated coverage on shares of Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price for the company. Guggenheim reiterated a “buy” rating and issued a $33.00 target price on shares of Pfizer in a research note on Monday. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Wednesday, October 23rd. Finally, UBS Group reduced their price objective 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Trading Up 0.7 %

NYSE PFE opened at $25.64 on Friday. The firm’s 50-day moving average is $26.28 and its two-hundred day moving average is $27.63. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54. 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 stock has a market capitalization of $145.28 billion, a P/E ratio of 18.18, a PEG ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, beating 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 net margin of 12.62% and a return on equity of 19.47%. Pfizer’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.10 earnings per share. On average, sell-side analysts anticipate 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. Stockholders of record on Friday, January 24th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 6.71%. The ex-dividend date is Friday, January 24th. This is a boost from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is currently 121.99%.

Pfizer 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.