Pfizer Inc. (NYSE:PFE) Stock Position Reduced by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. reduced its position in Pfizer Inc. (NYSE:PFE) by 3.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,127 shares of the biopharmaceutical company’s stock after selling 2,205 shares during the period. Raleigh Capital Management Inc.’s holdings in Pfizer were worth $1,542,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wescott Financial Advisory Group LLC acquired a new stake in Pfizer in the 2nd quarter worth approximately $224,000. Fred Alger Management LLC increased its holdings in shares of Pfizer by 6.6% during the 2nd quarter. Fred Alger Management LLC now owns 95,592 shares of the biopharmaceutical company’s stock worth $2,675,000 after purchasing an additional 5,932 shares during the period. Point72 Europe London LLP bought a new position in Pfizer during the second quarter valued at about $3,698,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Pfizer in the 2nd quarter valued at approximately $3,452,000. Finally, Caxton Associates LP bought a new stake in shares of Pfizer in the 2nd quarter worth approximately $738,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of PFE stock opened at $26.01 on Thursday. The stock’s fifty day moving average is $26.07 and its 200-day moving average is $27.96. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54. The stock has a market capitalization of $147.40 billion, a PE ratio of 35.15, a PEG ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $14.92 billion. During the same quarter last year, the company posted ($0.17) EPS. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. Equities research analysts expect that Pfizer Inc. will post 2.94 EPS for the current fiscal year.

Pfizer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be issued a dividend of $0.43 per share. This is an increase from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 annualized dividend and a yield of 6.61%. Pfizer’s dividend payout ratio is currently 227.03%.

Insider Activity

In other news, Director Scott Gottlieb purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 11.11 % 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. Insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

PFE has been the subject of a number of recent research reports. Guggenheim cut their target price on Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. StockNews.com lowered shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Bank of America reissued a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. Finally, Citigroup assumed coverage on Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

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.