Valley National Advisers Inc. Trims Stake in Pfizer Inc. (NYSE:PFE)

Valley National Advisers Inc. lessened its holdings in shares of Pfizer Inc. (NYSE:PFE) by 45.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,734 shares of the biopharmaceutical company’s stock after selling 8,214 shares during the quarter. Valley National Advisers Inc.’s holdings in Pfizer were worth $258,000 at the end of the most recent quarter.

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

Pfizer Trading Down 1.5 %

NYSE:PFE opened at $26.51 on Monday. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54. The company’s 50-day simple moving average is $26.27 and its 200 day simple moving average is $27.86. The firm has a market capitalization of $150.20 billion, a P/E ratio of 35.82, a PEG ratio of 0.66 and a beta of 0.64. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

Pfizer Increases Dividend

The business 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 yield of 6.49%. The ex-dividend date is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio (DPR) is 232.44%.

Analyst Upgrades and Downgrades

PFE has been the topic of several recent research reports. Sanford C. Bernstein began coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective on the stock. Bank of America reaffirmed a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a research note on Tuesday, December 10th. UBS Group cut their price target on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Guggenheim lowered their target price on Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.