KFG Wealth Management LLC Reduces Position in Pfizer Inc. (NYSE:PFE)

KFG Wealth Management LLC trimmed its holdings in Pfizer Inc. (NYSE:PFE) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,011 shares of the biopharmaceutical company’s stock after selling 842 shares during the quarter. KFG Wealth Management LLC’s holdings in Pfizer were worth $557,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in Pfizer by 11.0% during 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 buying an additional 12,864,343 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Pfizer by 22.4% during the 3rd 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. International Assets Investment Management LLC purchased a new stake in shares of Pfizer in the third quarter valued at about $146,481,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Pfizer by 164.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company’s stock worth $211,737,000 after purchasing an additional 4,546,809 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in Pfizer by 226.7% in the 3rd quarter. Fisher Asset Management LLC now owns 6,209,907 shares of the biopharmaceutical company’s stock valued at $179,715,000 after purchasing an additional 4,309,076 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Stock Down 1.3 %

Shares of NYSE PFE opened at $26.10 on Friday. Pfizer Inc. has a 12-month low of $24.48 and a 12-month high of $31.54. The stock has a market cap of $147.89 billion, a P/E ratio of 35.27, a PEG ratio of 0.64 and a beta of 0.64. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The business’s fifty day simple moving average is $26.11 and its 200-day simple moving average is $27.94.

Pfizer (NYSE:PFE) last issued 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 firm had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm’s revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.17) earnings per share. As a group, equities analysts predict that Pfizer Inc. will post 2.94 EPS for the current fiscal year.

Pfizer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be given a dividend of $0.43 per share. This is a boost from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 6.59%. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s dividend payout ratio is currently 227.03%.

Insider Activity

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

Wall Street Analyst Weigh In

Several research firms have recently commented on PFE. Bank of America reaffirmed a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. Guggenheim lowered their price target on Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Citigroup initiated coverage on shares of Pfizer in a research report on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price on the stock. Truist Financial dropped their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Finally, UBS Group decreased their price objective on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

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.