Xcel Wealth Management LLC Sells 44,544 Shares of Pfizer Inc. (NYSE:PFE)

Xcel Wealth Management LLC trimmed its position in shares of Pfizer Inc. (NYSE:PFE) by 16.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 232,167 shares of the biopharmaceutical company’s stock after selling 44,544 shares during the period. Pfizer accounts for approximately 1.7% of Xcel Wealth Management LLC’s portfolio, making the stock its 15th largest holding. Xcel Wealth Management LLC’s holdings in Pfizer were worth $6,159,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Pfizer by 1.2% in the third quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock worth $8,405,930,000 after acquiring an additional 3,405,539 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Pfizer by 11.0% in 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 acquiring an additional 12,864,343 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Pfizer by 1.6% in the third quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock worth $3,392,342,000 after acquiring an additional 1,855,419 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of 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 worth $1,101,713,000 after acquiring an additional 6,977,587 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of Pfizer by 28.5% in the fourth quarter. Van ECK Associates Corp now owns 21,286,805 shares of the biopharmaceutical company’s stock worth $564,739,000 after acquiring an additional 4,726,549 shares during the period. 68.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PFE has been the subject of a number of analyst reports. UBS Group cut their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Guggenheim reissued a “buy” rating and set a $33.00 price objective on shares of Pfizer in a research note on Monday, February 10th. Citigroup dropped their price objective on Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Bank of America reissued a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a research note on Tuesday, December 10th. Finally, Truist Financial dropped their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $31.92.

Pfizer Trading Up 1.3 %

NYSE PFE opened at $26.43 on Friday. The stock’s 50-day simple moving average is $26.35 and its two-hundred day simple moving average is $27.34. Pfizer Inc. has a twelve month low of $24.48 and a twelve month 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 company has a market capitalization of $149.78 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.15. The business had revenue of $17.76 billion for the quarter, compared to the consensus estimate of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. During the same quarter last year, the business posted $0.10 earnings per share. Research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The business 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 $0.43 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 annualized dividend and a dividend yield of 6.51%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s payout ratio is currently 121.99%.

Insider Transactions at Pfizer

In related news, Director Ronald E. Blaylock acquired 19,457 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were purchased at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the acquisition, the director now owns 27,707 shares in the company, valued at approximately $710,684.55. This represents a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.06% of the company’s stock.

About Pfizer

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.