Element Wealth LLC Lowers Holdings in Pfizer Inc. (NYSE:PFE)

Element Wealth LLC cut its holdings in Pfizer Inc. (NYSE:PFE) by 8.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,019 shares of the biopharmaceutical company’s stock after selling 1,294 shares during the period. Element Wealth LLC’s holdings in Pfizer were worth $372,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Retirement Wealth Solutions LLC bought a new stake in Pfizer in the 4th quarter worth approximately $26,000. Gladius Capital Management LP increased its stake in 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 during the last quarter. Teachers Insurance & Annuity Association of America bought a new stake in Pfizer in the 3rd quarter worth approximately $35,000. Joseph Group Capital Management increased its stake in Pfizer by 168.3% in the 3rd 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 bought a new stake in Pfizer in the 4th quarter worth approximately $34,000. Institutional investors own 68.36% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ronald E. Blaylock bought 19,457 shares of the stock in a transaction on Thursday, February 13th. The stock was acquired at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the acquisition, the director now owns 27,707 shares of the company’s stock, valued at $710,684.55. This represents a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PFE shares. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. UBS Group cut their target price on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Wolfe Research started coverage on Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 target price on the stock. Evercore ISI raised Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Finally, Citigroup cut their target price on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $31.92.

Pfizer Stock Performance

Shares of Pfizer stock opened at $26.32 on Friday. The stock’s fifty day moving average is $26.30 and its two-hundred day moving average is $27.42. The company has a market capitalization of $149.14 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 0.64 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 52 week low of $24.48 and a 52 week high of $31.54.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, topping 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 analysts’ expectations of $17.26 billion. During the same period in the prior year, the business earned $0.10 EPS. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. As a group, analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The company 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 annualized dividend and a dividend yield of 6.54%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. Pfizer’s dividend payout ratio is currently 121.99%.

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.