Douglas Lane & Associates LLC Has $948,000 Position in Pfizer Inc. (NYSE:PFE)

Douglas Lane & Associates LLC cut its holdings in Pfizer Inc. (NYSE:PFE) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,751 shares of the biopharmaceutical company’s stock after selling 1,818 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Pfizer were worth $948,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in Pfizer by 1.2% in the third quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock worth $8,405,930,000 after purchasing an additional 3,405,539 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 worth $3,766,366,000 after acquiring an additional 12,864,343 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Pfizer by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock valued at $3,392,342,000 after acquiring an additional 1,855,419 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Pfizer by 3.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after acquiring an additional 2,241,609 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in 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 last quarter. 68.36% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the company. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Truist Financial decreased their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. Finally, Citigroup started coverage on Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 target price for the company. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pfizer currently has an average rating of “Moderate Buy” and an average price target of $32.00.

Insiders Place Their Bets

In other news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.06% of the company’s stock.

Pfizer Trading Down 0.8 %

Shares of PFE stock opened at $26.92 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The firm has a fifty day moving average of $26.23 and a 200-day moving average of $28.06. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54. The stock has a market cap of $152.56 billion, a price-to-earnings ratio of 36.38, a P/E/G ratio of 0.63 and a beta of 0.64.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. During the same quarter in the prior year, the business posted ($0.17) earnings per share. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. On average, equities research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 6.39%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. Pfizer’s dividend payout ratio is 232.43%.

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.