Thurston Springer Miller Herd & Titak Inc. Reduces Position in Pfizer Inc. (NYSE:PFE)

Thurston Springer Miller Herd & Titak Inc. trimmed its position in Pfizer Inc. (NYSE:PFE) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,704 shares of the biopharmaceutical company’s stock after selling 570 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Pfizer were worth $602,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PFE. Charles Schwab Investment Management Inc. increased its holdings in shares of Pfizer by 11.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock valued at $3,766,366,000 after acquiring an additional 12,864,343 shares during the last quarter. Marshall Wace LLP boosted its holdings in Pfizer by 279.3% in the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after purchasing an additional 8,378,173 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Pfizer by 22.4% in the third 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 during the last quarter. International Assets Investment Management LLC acquired a new stake in Pfizer during the third quarter worth approximately $146,481,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Pfizer by 164.2% during the 3rd 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 buying an additional 4,546,809 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Citigroup began coverage on shares of Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Wednesday, October 23rd. UBS Group decreased their target price on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Guggenheim cut their price target on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, Bank of America reissued a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a report on Tuesday, December 10th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Pfizer Trading Down 0.6 %

Shares of Pfizer stock opened at $26.25 on Thursday. The firm has a market cap of $148.76 billion, a price-to-earnings ratio of 35.47, a price-to-earnings-growth ratio of 0.63 and a beta of 0.64. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54. The company’s 50-day simple moving average is $26.13 and its 200-day simple moving average is $28.03. 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 (NYSE:PFE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The business had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.17) EPS. As a group, equities research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be given a dividend of $0.43 per share. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 6.55%. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s payout ratio is presently 232.43%.

Insider Transactions at Pfizer

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

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.