Tritonpoint Wealth LLC Cuts Stock Position in Pfizer Inc. (NYSE:PFE)

Tritonpoint Wealth LLC cut its stake in Pfizer Inc. (NYSE:PFE) by 7.2% in the fourth quarter, HoldingsChannel reports. The firm owned 25,850 shares of the biopharmaceutical company’s stock after selling 1,994 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Pfizer were worth $686,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PFE. State Street Corp grew its stake in shares of Pfizer by 1.2% during the third quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock worth $8,405,930,000 after purchasing an additional 3,405,539 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in 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 in the last quarter. Geode Capital Management LLC increased its stake in Pfizer by 1.6% in the third quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock valued at $3,392,342,000 after purchasing an additional 1,855,419 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Pfizer by 22.4% during 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 purchasing an additional 6,977,587 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Pfizer by 0.6% during 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 last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

PFE opened at $26.51 on Monday. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54. The stock has a market cap of $150.20 billion, a P/E ratio of 35.82, a P/E/G ratio of 0.64 and a beta of 0.64. The stock’s 50 day simple moving average is $26.27 and its 200 day simple moving average is $27.86. 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be given a $0.43 dividend. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.49%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio (DPR) is currently 232.44%.

Analyst Ratings Changes

PFE has been the subject of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Wednesday, October 23rd. Bank of America reissued a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a research report on Tuesday, December 10th. StockNews.com cut shares of Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. UBS Group lowered their target price on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Guggenheim dropped their price target on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.92.

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.