International Assets Investment Management LLC Sells 4,836,039 Shares of Pfizer Inc. (NYSE:PFE)

International Assets Investment Management LLC decreased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 95.5% during the fourth quarter, HoldingsChannel reports. The firm owned 225,491 shares of the biopharmaceutical company’s stock after selling 4,836,039 shares during the period. International Assets Investment Management LLC’s holdings in Pfizer were worth $5,513,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of PFE. Gladius Capital Management LP raised its position in shares of Pfizer by 102.8% in the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 38,015 shares in the last quarter. Quarry LP purchased a new stake in shares of Pfizer during the 2nd quarter valued at $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Pfizer in the 3rd quarter worth $35,000. Joseph Group Capital Management increased its position in Pfizer by 168.3% during 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 in the last quarter. Finally, Kennebec Savings Bank purchased a new position in shares of Pfizer in the 3rd quarter valued at approximately $50,000. Institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Wednesday, October 23rd. 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. Sanford C. Bernstein assumed coverage on shares of Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price for the company. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Finally, UBS Group cut their price objective on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Pfizer Stock Down 1.3 %

Pfizer stock traded down $0.35 during mid-day trading on Wednesday, reaching $26.78. 7,624,719 shares of the company’s stock were exchanged, compared to its average volume of 30,082,521. The company has a fifty day moving average of $26.27 and a 200-day moving average of $28.07. The company has a market cap of $151.76 billion, a P/E ratio of 36.19, a P/E/G ratio of 0.63 and a beta of 0.64. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same period in the prior year, the firm earned ($0.17) earnings per share. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. Sell-side analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 6.42%. The ex-dividend date of this dividend is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is 232.43%.

Insiders Place Their Bets

In related news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. The trade was a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by company insiders.

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.