Old Port Advisors Sells 6,528 Shares of Pfizer Inc. (NYSE:PFE)

Old Port Advisors decreased its position in Pfizer Inc. (NYSE:PFE) by 7.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 82,075 shares of the biopharmaceutical company’s stock after selling 6,528 shares during the quarter. Old Port Advisors’ holdings in Pfizer were worth $2,177,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PFE. Charles Schwab Investment Management Inc. increased its holdings in shares of Pfizer by 11.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after buying an additional 12,864,343 shares in the last quarter. Marshall Wace LLP grew its position in Pfizer by 279.3% during the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock worth $150,481,000 after acquiring an additional 8,378,173 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Pfizer by 22.4% during 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 valued at $1,101,713,000 after purchasing an additional 6,977,587 shares in the last quarter. International Assets Investment Management LLC bought a new position in Pfizer in the 3rd quarter valued at $146,481,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Pfizer by 164.2% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company’s stock worth $211,737,000 after purchasing an additional 4,546,809 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Insider Activity at Pfizer

In related news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $282,400. The trade was a 11.11 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. Bank of America restated a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a research report on Tuesday, December 10th. Truist Financial decreased their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Wolfe Research initiated coverage on Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 target price for the company. Finally, Guggenheim decreased their price target on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Pfizer has a consensus rating of “Moderate Buy” and an average target price of $32.14.

Pfizer Trading Up 0.6 %

NYSE PFE traded up $0.17 during trading on Thursday, reaching $26.70. 6,738,037 shares of the stock traded hands, compared to its average volume of 38,828,066. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The firm has a market cap of $151.31 billion, a price-to-earnings ratio of 36.08, a price-to-earnings-growth ratio of 0.63 and a beta of 0.65. The stock’s 50-day moving average price is $26.41 and its 200 day moving average price is $28.08.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm’s revenue was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.17) EPS. Analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 6.44%. 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 232.43%.

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.