Archer Investment Corp Cuts Stock Position in Pfizer Inc. (NYSE:PFE)

Archer Investment Corp decreased its position in shares of Pfizer Inc. (NYSE:PFE) by 53.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,287 shares of the biopharmaceutical company’s stock after selling 33,232 shares during the period. Archer Investment Corp’s holdings in Pfizer were worth $777,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Prairie Wealth Advisors Inc. lifted its holdings in shares of Pfizer by 23.5% during the 4th quarter. Prairie Wealth Advisors Inc. now owns 9,407 shares of the biopharmaceutical company’s stock valued at $250,000 after purchasing an additional 1,791 shares during the last quarter. Keystone Financial Group Inc. acquired a new position in Pfizer during the 4th quarter valued at about $114,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Pfizer by 7.5% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 756,400 shares of the biopharmaceutical company’s stock valued at $20,067,000 after buying an additional 52,578 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Pfizer by 7.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 14,075,637 shares of the biopharmaceutical company’s stock worth $373,427,000 after acquiring an additional 956,873 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Pfizer by 19,570.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 800,000 shares of the biopharmaceutical company’s stock worth $21,224,000 after acquiring an additional 795,933 shares during the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PFE has been the subject of a number of recent analyst reports. Bank of America reiterated a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. UBS Group lowered their price objective on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Citigroup cut their target price on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Stock Down 2.3 %

PFE stock opened at $25.83 on Friday. The firm’s fifty day moving average is $26.29 and its 200 day moving average is $27.78. The firm has a market cap of $146.35 billion, a PE ratio of 34.90, a P/E/G ratio of 0.66 and a beta of 0.64. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.15. The firm had revenue of $17.76 billion during the quarter, compared to analyst estimates of $17.26 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. Pfizer’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 EPS. On average, research analysts forecast that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, January 24th. This is a boost from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 6.66%. Pfizer’s dividend payout ratio is currently 232.44%.

Pfizer 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.