Indie Asset Partners LLC Lowers Stock Holdings in Pfizer Inc. (NYSE:PFE)

Indie Asset Partners LLC trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 10.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,101 shares of the biopharmaceutical company’s stock after selling 1,559 shares during the quarter. Indie Asset Partners LLC’s holdings in Pfizer were worth $374,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PFE. State Street Corp raised its holdings in shares of Pfizer by 1.2% in the third quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock worth $8,405,930,000 after buying an additional 3,405,539 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake 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 worth $3,766,366,000 after buying an additional 12,864,343 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Pfizer by 1.6% in 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 buying an additional 1,855,419 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 during the period. Finally, Van ECK Associates Corp raised its stake in Pfizer by 28.5% during the fourth quarter. Van ECK Associates Corp now owns 21,286,805 shares of the biopharmaceutical company’s stock worth $564,739,000 after purchasing an additional 4,726,549 shares during the period. 68.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PFE shares. Guggenheim restated a “buy” rating and issued a $33.00 price objective on shares of Pfizer in a report on Monday, February 10th. UBS Group reduced their price target on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, Truist Financial decreased their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. One research 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.92.

Insiders Place Their Bets

In other news, Director Ronald E. Blaylock purchased 19,457 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the acquisition, the director now directly owns 27,707 shares in the company, valued at approximately $710,684.55. The trade was a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Pfizer Stock Up 1.6 %

PFE opened at $26.32 on Friday. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54. 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 stock has a market capitalization of $149.14 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 0.64 and a beta of 0.64. The business has a 50 day moving average of $26.30 and a 200-day moving average of $27.42.

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

Pfizer Increases Dividend

The business also recently disclosed 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. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 6.54%. The ex-dividend date is Friday, January 24th. Pfizer’s dividend payout ratio is currently 121.99%.

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.