Global Trust Asset Management LLC Decreases Stake in Pfizer Inc. (NYSE:PFE)

Global Trust Asset Management LLC lessened its stake in shares of Pfizer Inc. (NYSE:PFE) by 38.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,691 shares of the biopharmaceutical company’s stock after selling 1,071 shares during the period. Global Trust Asset Management LLC’s holdings in Pfizer were worth $45,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. State Street Corp increased its position in shares of Pfizer by 1.2% in the 3rd quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock valued at $8,405,930,000 after acquiring an additional 3,405,539 shares during the period. Charles Schwab Investment Management Inc. increased 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 valued at $3,766,366,000 after purchasing an additional 12,864,343 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Pfizer by 1.6% during 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 purchasing an additional 1,855,419 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in 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 valued at $1,101,713,000 after buying an additional 6,977,587 shares during the last quarter. Finally, Swiss National Bank increased its holdings in Pfizer by 0.6% in the 3rd quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock worth $486,762,000 after buying an additional 100,900 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Insider Activity

In related news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 11.11 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Bank of America reaffirmed a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a report on Tuesday, December 10th. Citigroup assumed coverage on Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Finally, Wolfe Research started coverage on Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target for the company. One 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 MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Pfizer Stock Down 2.4 %

PFE opened at $26.01 on Thursday. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. The company has a market cap of $147.40 billion, a PE ratio of 35.15, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64. The company has a 50-day moving average price of $26.09 and a 200 day moving average price of $27.97.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.42. The business had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) earnings per share. Sell-side analysts expect that Pfizer Inc. will post 2.94 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be issued a dividend of $0.43 per share. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.61%. Pfizer’s dividend payout ratio is presently 227.03%.

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.