Centre Asset Management LLC Sells 35,424 Shares of Pfizer Inc. (NYSE:PFE)

Centre Asset Management LLC lessened its position in shares of Pfizer Inc. (NYSE:PFE) by 8.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 397,490 shares of the biopharmaceutical company’s stock after selling 35,424 shares during the period. Pfizer makes up about 2.4% of Centre Asset Management LLC’s holdings, making the stock its 15th biggest position. Centre Asset Management LLC’s holdings in Pfizer were worth $10,545,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sachetta LLC grew its holdings in shares of Pfizer by 7.3% during the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock valued at $140,000 after purchasing an additional 342 shares during the last quarter. Wells Trecaso Financial Group LLC raised its holdings in 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 buying an additional 350 shares during the last quarter. Washington Trust Advisors Inc. boosted its position in Pfizer by 0.7% during the 3rd quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company’s stock valued at $1,424,000 after buying an additional 360 shares during the period. Cullen Investment Group LTD. grew its holdings in Pfizer by 0.9% in the 3rd quarter. Cullen Investment Group LTD. now owns 42,677 shares of the biopharmaceutical company’s stock worth $1,235,000 after acquiring an additional 377 shares during the last quarter. Finally, MidWestOne Financial Group Inc. increased its position in shares of Pfizer by 1.5% in the second quarter. MidWestOne Financial Group Inc. now owns 26,530 shares of the biopharmaceutical company’s stock valued at $742,000 after acquiring an additional 386 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Trading Down 0.1 %

Shares of PFE traded down $0.03 during midday trading on Friday, hitting $26.58. The stock had a trading volume of 4,407,611 shares, compared to its average volume of 18,233,549. The stock’s 50 day moving average is $26.37 and its 200 day moving average is $28.07. The firm has a market cap of $150.63 billion, a PE ratio of 35.92, a price-to-earnings-growth ratio of 0.63 and a beta of 0.65. 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 Inc. has a 1 year low of $24.48 and a 1 year high of $31.54.

Pfizer (NYSE:PFE) last posted its quarterly earnings data 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 net margin of 7.07% and a return on equity of 16.28%. The company had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same period in the prior year, the company posted ($0.17) EPS. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. As a group, 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. Shareholders of record on Friday, January 24th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 6.47%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s payout ratio is 232.43%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PFE. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Sanford C. Bernstein assumed coverage on Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target on the stock. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Bank of America reiterated a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a research note on Tuesday, December 10th. Finally, Citigroup began coverage on shares of Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Pfizer presently has a consensus rating of “Moderate Buy” and an average price target of $32.14.

Insiders Place Their Bets

In related news, Director Scott Gottlieb acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

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.