Pfizer Inc. (NYSE:PFE) Stock Position Decreased by Destination Wealth Management

Destination Wealth Management trimmed its stake in Pfizer Inc. (NYSE:PFE) by 2.9% during the fourth quarter, Holdings Channel reports. The fund owned 683,671 shares of the biopharmaceutical company’s stock after selling 20,257 shares during the quarter. Destination Wealth Management’s holdings in Pfizer were worth $18,138,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Callan Family Office LLC acquired a new stake in shares of Pfizer during the 4th quarter worth approximately $595,000. Candriam S.C.A. grew its holdings in shares of Pfizer by 7.7% during the 4th quarter. Candriam S.C.A. now owns 422,501 shares of the biopharmaceutical company’s stock worth $11,209,000 after purchasing an additional 30,207 shares in the last quarter. Ethos Financial Group LLC grew its holdings in shares of Pfizer by 21.9% during the 4th quarter. Ethos Financial Group LLC now owns 11,390 shares of the biopharmaceutical company’s stock worth $302,000 after purchasing an additional 2,044 shares in the last quarter. Inceptionr LLC acquired a new stake in shares of Pfizer during the 4th quarter worth approximately $229,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Pfizer during the 4th quarter worth approximately $274,694,000. 68.36% of the stock is owned by institutional investors.

Insider Buying and Selling at Pfizer

In other Pfizer news, Director Ronald E. Blaylock bought 19,457 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was purchased at an average cost of $25.65 per share, with a total value of $499,072.05. Following the completion of the purchase, the director now owns 27,707 shares in the company, valued at approximately $710,684.55. The trade was a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

Pfizer Stock Up 1.0 %

Shares of Pfizer stock opened at $26.21 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54. The business has a fifty day simple moving average of $26.30 and a 200 day simple moving average of $27.26. The stock has a market cap of $148.51 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 0.64 and a beta of 0.61.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $17.26 billion. During the same period in the previous year, the firm earned $0.10 earnings per share. The company’s revenue was up 24.7% on a year-over-year basis. Research analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The firm 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 $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 6.56%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s payout ratio is presently 121.99%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wolfe Research assumed coverage on Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target on the stock. Guggenheim reaffirmed a “buy” rating and issued a $33.00 price target on shares of Pfizer in a research note on Monday, February 10th. Bank of America reaffirmed a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a research note on Tuesday, December 10th. Citigroup cut their price objective on Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Finally, StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. One investment 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.92.

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.