Quadrant Private Wealth Management LLC Cuts Stock Holdings in Pfizer Inc. (NYSE:PFE)

Quadrant Private Wealth Management LLC reduced its position in shares of Pfizer Inc. (NYSE:PFE) by 12.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 118,072 shares of the biopharmaceutical company’s stock after selling 17,099 shares during the period. Quadrant Private Wealth Management LLC’s holdings in Pfizer were worth $3,132,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PFE. Creative Planning increased its stake in Pfizer by 17.1% during the 3rd quarter. Creative Planning now owns 1,820,731 shares of the biopharmaceutical company’s stock worth $52,692,000 after buying an additional 266,167 shares in the last quarter. Swedbank AB grew its position in shares of Pfizer by 0.7% in the third quarter. Swedbank AB now owns 5,745,831 shares of the biopharmaceutical company’s stock valued at $166,284,000 after purchasing an additional 37,636 shares in the last quarter. Cornerstone Wealth Management LLC grew its position in shares of Pfizer by 8.1% in the third quarter. Cornerstone Wealth Management LLC now owns 77,912 shares of the biopharmaceutical company’s stock valued at $2,255,000 after purchasing an additional 5,854 shares in the last quarter. nVerses Capital LLC grew its position in shares of Pfizer by 154.1% in the third quarter. nVerses Capital LLC now owns 15,500 shares of the biopharmaceutical company’s stock valued at $449,000 after purchasing an additional 9,400 shares in the last quarter. Finally, Good Life Advisors LLC grew its position in shares of Pfizer by 7.4% in the third quarter. Good Life Advisors LLC now owns 56,199 shares of the biopharmaceutical company’s stock valued at $1,626,000 after purchasing an additional 3,869 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PFE. Truist Financial dropped their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. UBS Group dropped their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Guggenheim reiterated a “buy” rating and issued a $33.00 price objective on shares of Pfizer in a report on Monday, February 10th. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, Bank of America reiterated a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and an average target price of $31.92.

Pfizer Stock Down 0.6 %

NYSE:PFE opened at $25.50 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The stock’s fifty day moving average is $26.28 and its two-hundred day moving average is $27.62. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54. The stock has a market capitalization of $144.48 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.15. The business had revenue of $17.76 billion for the quarter, compared to analysts’ expectations of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same period last year, the firm earned $0.10 earnings per share. Research analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be paid a $0.43 dividend. 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 6.75%. The ex-dividend date is Friday, January 24th. Pfizer’s dividend payout ratio (DPR) is presently 121.99%.

Insider Activity

In other Pfizer news, Director Ronald E. Blaylock bought 19,457 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average price of $25.65 per share, with a total value of $499,072.05. Following the completion of the acquisition, the director now directly owns 27,707 shares of the company’s stock, valued at $710,684.55. This represents a 235.84 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

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.