Cardinal Capital Management Sells 2,591 Shares of Pfizer Inc. (NYSE:PFE)

Cardinal Capital Management cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,915 shares of the biopharmaceutical company’s stock after selling 2,591 shares during the quarter. Cardinal Capital Management’s holdings in Pfizer were worth $2,385,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Retirement Wealth Solutions LLC purchased a new position in Pfizer in the 4th quarter worth approximately $26,000. Gladius Capital Management LP raised its position 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 buying an additional 38,015 shares during the last quarter. Teachers Insurance & Annuity Association of America purchased a new position in shares of Pfizer in the third quarter worth $35,000. Joseph Group Capital Management boosted its position in shares of Pfizer by 168.3% during the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 771 shares during the last quarter. Finally, Sierra Ocean LLC purchased a new position in Pfizer during the fourth quarter valued at $34,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

PFE stock opened at $25.50 on Tuesday. The stock has a market cap of $144.48 billion, a PE ratio of 18.08, a P/E/G ratio of 0.64 and a beta of 0.64. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54. The company has a 50-day moving average price of $26.28 and a 200 day moving average price of $27.54. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last announced its earnings results 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. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The business had revenue of $17.76 billion during the quarter, compared to analyst estimates of $17.26 billion. During the same quarter in the previous year, the business earned $0.10 earnings per share. The company’s revenue for the quarter was up 24.7% compared to the same quarter last year. Equities research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be paid a $0.43 dividend. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a yield of 6.75%. Pfizer’s dividend payout ratio (DPR) is presently 121.99%.

Wall Street Analysts Forecast Growth

PFE has been the subject of several research reports. Bank of America reissued a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a report on Tuesday, December 10th. Guggenheim reissued a “buy” rating and set a $33.00 price target on shares of Pfizer in a research note on Monday, February 10th. Truist Financial reduced their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Finally, UBS Group reduced their price target on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and an average price target of $31.92.

Insider Transactions at Pfizer

In related news, Director Ronald E. Blaylock purchased 19,457 shares of Pfizer 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 purchase, the director now directly owns 27,707 shares of the company’s stock, valued at approximately $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 is available at this hyperlink. Corporate insiders own 0.06% of the company’s stock.

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.