Pfizer Inc. (NYSE:PFE) Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC trimmed its holdings in Pfizer Inc. (NYSE:PFE) by 4.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,951,579 shares of the biopharmaceutical company’s stock after selling 330,130 shares during the quarter. Pzena Investment Management LLC’s holdings in Pfizer were worth $184,425,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Swedbank AB lifted its stake in Pfizer by 0.7% in the third quarter. Swedbank AB now owns 5,745,831 shares of the biopharmaceutical company’s stock valued at $166,284,000 after buying an additional 37,636 shares during the last quarter. United Bank lifted its stake in Pfizer by 3.7% in the third quarter. United Bank now owns 35,599 shares of the biopharmaceutical company’s stock valued at $1,030,000 after buying an additional 1,277 shares during the last quarter. Atria Investments Inc lifted its stake in Pfizer by 1.1% in the third quarter. Atria Investments Inc now owns 300,430 shares of the biopharmaceutical company’s stock valued at $8,694,000 after buying an additional 3,243 shares during the last quarter. Legacy Capital Wealth Partners LLC purchased a new stake in Pfizer in the third quarter valued at approximately $233,000. Finally, Baker Avenue Asset Management LP lifted its stake in Pfizer by 9.1% in the third quarter. Baker Avenue Asset Management LP now owns 32,860 shares of the biopharmaceutical company’s stock valued at $951,000 after buying an additional 2,738 shares during the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Trading Down 0.4 %

Shares of PFE stock opened at $26.62 on Tuesday. The business’s fifty day moving average price is $26.30 and its 200 day moving average price is $27.21. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54. The firm has a market capitalization of $150.89 billion, a PE ratio of 18.88, a P/E/G ratio of 0.64 and a beta of 0.61. 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 announced its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.15. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same quarter in the prior year, the company posted $0.10 earnings per share. Pfizer’s quarterly revenue was up 24.7% on a year-over-year basis. As a group, sell-side analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, January 24th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 6.46%. The ex-dividend date was Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is currently 121.99%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PFE. Wolfe Research began coverage on Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective for the company. Guggenheim reiterated a “buy” rating and issued a $33.00 price objective on shares of Pfizer in a research note on Monday, February 10th. StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Truist Financial cut their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Finally, Bank of America restated a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.92.

Insider Buying and Selling at Pfizer

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

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.