Spectrum Asset Management Inc. NB CA Sells 9,041 Shares of Pfizer Inc. (NYSE:PFE)

Spectrum Asset Management Inc. NB CA lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 35.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,799 shares of the biopharmaceutical company’s stock after selling 9,041 shares during the period. Spectrum Asset Management Inc. NB CA’s holdings in Pfizer were worth $446,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PFE. Artemis Investment Management LLP raised its holdings in Pfizer by 27.9% in the 3rd quarter. Artemis Investment Management LLP now owns 460,127 shares of the biopharmaceutical company’s stock valued at $13,316,000 after acquiring an additional 100,492 shares in the last quarter. City Holding Co. increased its position in shares of Pfizer by 12.5% in the third quarter. City Holding Co. now owns 33,636 shares of the biopharmaceutical company’s stock worth $973,000 after purchasing an additional 3,726 shares during the period. Brookstone Capital Management lifted its position in Pfizer by 1.5% during the third quarter. Brookstone Capital Management now owns 123,930 shares of the biopharmaceutical company’s stock worth $3,587,000 after purchasing an additional 1,876 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its stake in Pfizer by 25.4% during the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 12,223 shares of the biopharmaceutical company’s stock worth $354,000 after buying an additional 2,479 shares in the last quarter. Finally, CWM LLC increased its holdings in Pfizer by 3.6% in the 3rd quarter. CWM LLC now owns 1,323,928 shares of the biopharmaceutical company’s stock valued at $38,314,000 after buying an additional 46,221 shares during the period. 68.36% of the stock is owned by institutional investors.

Pfizer Trading Down 2.3 %

NYSE:PFE opened at $25.83 on Friday. The stock has a market cap of $146.35 billion, a price-to-earnings ratio of 34.90, a PEG ratio of 0.66 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. The company’s 50 day moving average price is $26.29 and its 200-day moving average price is $27.78. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.48 by $0.15. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company had revenue of $17.76 billion during the quarter, compared to the consensus estimate of $17.26 billion. During the same period last year, the company earned $0.10 EPS. Pfizer’s revenue for the quarter was up 24.7% on a year-over-year basis. On average, equities research analysts forecast that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The firm 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 dividend of $0.43 per share. The ex-dividend date is Friday, January 24th. This represents a $1.72 annualized dividend and a dividend yield of 6.66%. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is presently 232.44%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PFE. Bank of America reiterated a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a research report on Tuesday, December 10th. Wolfe Research assumed coverage on Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Wednesday, October 23rd. Citigroup dropped their target price on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Finally, Truist Financial decreased their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus target price 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.