Drive Wealth Management LLC Reduces Holdings in Pfizer Inc. (NYSE:PFE)

Drive Wealth Management LLC trimmed its position in shares of Pfizer Inc. (NYSE:PFE) by 15.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,177 shares of the biopharmaceutical company’s stock after selling 1,829 shares during the quarter. Drive Wealth Management LLC’s holdings in Pfizer were worth $270,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of PFE. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of Pfizer by 7.0% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 46,758 shares of the biopharmaceutical company’s stock valued at $1,240,000 after purchasing an additional 3,078 shares during the period. Regatta Capital Group LLC boosted its stake in shares of Pfizer by 10.5% during the fourth quarter. Regatta Capital Group LLC now owns 15,594 shares of the biopharmaceutical company’s stock valued at $414,000 after purchasing an additional 1,480 shares during the period. Novare Capital Management LLC purchased a new stake in shares of Pfizer during the fourth quarter valued at $228,000. Duncan Williams Asset Management LLC boosted its stake in shares of Pfizer by 39.4% during the fourth quarter. Duncan Williams Asset Management LLC now owns 15,623 shares of the biopharmaceutical company’s stock valued at $414,000 after purchasing an additional 4,416 shares during the period. Finally, AlphaMark Advisors LLC boosted its stake in shares of Pfizer by 450.1% during the fourth quarter. AlphaMark Advisors LLC now owns 10,468 shares of the biopharmaceutical company’s stock valued at $278,000 after purchasing an additional 8,565 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on PFE shares. Wolfe Research started coverage on shares of Pfizer in a research note on Friday, November 15th. They set an “underperform” rating and a $25.00 target price for the company. UBS Group decreased their price objective on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. Sanford C. Bernstein started coverage on Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. Finally, Truist Financial decreased their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Insider Transactions at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

Pfizer Stock Performance

Shares of Pfizer stock opened at $26.86 on Tuesday. The company has a market capitalization of $152.19 billion, a PE ratio of 36.29, a P/E/G ratio of 0.64 and a beta of 0.64. 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 company has a 50-day simple moving average of $26.11 and a two-hundred day simple moving average of $27.94. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. The company’s revenue was up 31.2% on a year-over-year basis. Research analysts expect that Pfizer Inc. will post 2.94 EPS for the current fiscal year.

Pfizer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be paid a dividend of $0.43 per share. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.40%. Pfizer’s payout ratio is presently 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.