Tritonpoint Wealth LLC Reduces Stock Position in Pfizer Inc. (NYSE:PFE)

Tritonpoint Wealth LLC lessened its holdings in Pfizer Inc. (NYSE:PFE) by 7.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,850 shares of the biopharmaceutical company’s stock after selling 1,994 shares during the period. Tritonpoint Wealth LLC’s holdings in Pfizer were worth $686,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Wells Trecaso Financial Group LLC grew its stake in shares of Pfizer by 2.5% during the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after acquiring an additional 350 shares during the period. Washington Trust Advisors Inc. lifted its stake in Pfizer by 0.7% in the 3rd quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company’s stock worth $1,424,000 after purchasing an additional 360 shares in the last quarter. PSI Advisors LLC boosted its stake in Pfizer by 1.4% during the fourth quarter. PSI Advisors LLC now owns 27,823 shares of the biopharmaceutical company’s stock valued at $738,000 after buying an additional 385 shares during the last quarter. Western Pacific Wealth Management LP grew its holdings in shares of Pfizer by 10.5% in the third quarter. Western Pacific Wealth Management LP now owns 4,073 shares of the biopharmaceutical company’s stock valued at $118,000 after purchasing an additional 386 shares in the last quarter. Finally, Waddell & Associates LLC increased its holdings in shares of Pfizer by 1.6% in the 3rd quarter. Waddell & Associates LLC now owns 24,978 shares of the biopharmaceutical company’s stock worth $723,000 after buying an additional 388 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

NYSE:PFE opened at $26.51 on Monday. The company’s 50-day moving average is $26.27 and its two-hundred day moving average is $27.86. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The firm has a market capitalization of $150.20 billion, a price-to-earnings ratio of 35.82, a PEG ratio of 0.64 and a beta of 0.64. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54.

Pfizer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.49%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. Pfizer’s dividend payout ratio (DPR) is presently 232.44%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PFE. Bank of America reiterated a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Truist Financial dropped their price objective on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Guggenheim dropped their price objective on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Finally, Sanford C. Bernstein initiated coverage on shares of Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.92.

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.