Byrne Asset Management LLC Sells 1,638 Shares of Pfizer Inc. (NYSE:PFE)

Byrne Asset Management LLC cut its stake in shares of Pfizer Inc. (NYSE:PFE) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,862 shares of the biopharmaceutical company’s stock after selling 1,638 shares during the period. Byrne Asset Management LLC’s holdings in Pfizer were worth $766,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of PFE. Swiss National Bank raised its position in Pfizer by 0.6% during the third quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock worth $486,762,000 after acquiring an additional 100,900 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Pfizer by 11.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after purchasing an additional 12,864,343 shares during the last quarter. Empowered Funds LLC lifted its stake in Pfizer by 80.9% in the 3rd quarter. Empowered Funds LLC now owns 508,256 shares of the biopharmaceutical company’s stock valued at $14,709,000 after purchasing an additional 227,349 shares during the last quarter. Addison Advisors LLC grew its holdings in Pfizer by 394.2% during the third quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock worth $1,512,000 after purchasing an additional 41,668 shares during the period. Finally, KBC Group NV raised its stake in Pfizer by 26.0% in the third quarter. KBC Group NV now owns 3,105,433 shares of the biopharmaceutical company’s stock valued at $89,872,000 after buying an additional 639,985 shares during the period. 68.36% of the stock is currently owned by institutional investors.

Pfizer Stock Performance

PFE opened at $25.76 on Friday. The firm has a market cap of $145.96 billion, a P/E ratio of 18.27, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64. The business’s fifty day moving average is $26.29 and its 200-day moving average is $27.77. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54. 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 (NYSE:PFE) last released its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.48 by $0.15. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The firm had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same period last year, the firm earned $0.10 EPS. The business’s quarterly revenue was up 24.7% compared to the same quarter last year. Sell-side analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal 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 issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.68%. The ex-dividend date is Friday, January 24th. This is an increase from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio (DPR) is currently 121.99%.

Analyst Ratings Changes

Several brokerages have recently commented on PFE. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. UBS Group decreased their price objective on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein started coverage on shares of Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target on the stock. Finally, Guggenheim decreased their target price on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and an average price target of $31.92.

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.