QRG Capital Management Inc. Sells 47,576 Shares of Pfizer Inc. (NYSE:PFE)

QRG Capital Management Inc. lowered its stake in Pfizer Inc. (NYSE:PFE) by 11.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 357,479 shares of the biopharmaceutical company’s stock after selling 47,576 shares during the period. QRG Capital Management Inc.’s holdings in Pfizer were worth $9,484,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PFE. Retirement Wealth Solutions LLC bought a new stake in Pfizer during the 4th quarter worth $26,000. Gladius Capital Management LP boosted its stake in shares of Pfizer by 102.8% during the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 38,015 shares in the last quarter. Sierra Ocean LLC acquired a new position in shares of Pfizer in the fourth quarter valued at approximately $34,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Pfizer in the third quarter valued at approximately $35,000. Finally, Joseph Group Capital Management raised its holdings in Pfizer by 168.3% in the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 771 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Trading Down 1.3 %

NYSE PFE opened at $26.09 on Friday. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54. The business has a 50 day moving average price of $26.35 and a 200-day moving average price of $27.35. 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 company has a market cap of $147.83 billion, a price-to-earnings ratio of 18.50, a P/E/G ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.15. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The firm had revenue of $17.76 billion for the quarter, compared to the consensus estimate of $17.26 billion. During the same quarter in the prior year, the company posted $0.10 earnings per share. The business’s revenue was up 24.7% on a year-over-year basis. As a group, equities analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a yield of 6.59%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s payout ratio is 121.99%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Truist Financial decreased 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. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Wolfe Research began coverage on Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 target price on the stock. Bank of America reissued a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a research note on Tuesday, December 10th. Finally, Citigroup cut their price objective on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, eight have assigned 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.com, Pfizer currently has an average rating of “Moderate Buy” and a consensus price target of $31.92.

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.