Pettee Investors Inc. Trims Stock Position in Pfizer Inc. (NYSE:PFE)

Pettee Investors Inc. lessened its holdings in Pfizer Inc. (NYSE:PFE) by 1.6% during the 4th quarter, Holdings Channel reports. The firm owned 96,166 shares of the biopharmaceutical company’s stock after selling 1,600 shares during the quarter. Pfizer comprises 1.3% of Pettee Investors Inc.’s investment portfolio, making the stock its 23rd biggest holding. Pettee Investors Inc.’s holdings in Pfizer were worth $2,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Washington Trust Advisors Inc. boosted its stake in shares of Pfizer by 0.7% in the 3rd quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company’s stock valued at $1,424,000 after purchasing an additional 360 shares in the last quarter. PSI Advisors LLC boosted its stake in shares of Pfizer by 1.4% in the 4th quarter. PSI Advisors LLC now owns 27,823 shares of the biopharmaceutical company’s stock valued at $738,000 after purchasing an additional 385 shares in the last quarter. Waddell & Associates LLC boosted its stake in shares of Pfizer by 1.6% in the 3rd quarter. Waddell & Associates LLC now owns 24,978 shares of the biopharmaceutical company’s stock valued at $723,000 after purchasing an additional 388 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Pfizer by 1.0% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 38,706 shares of the biopharmaceutical company’s stock valued at $1,027,000 after purchasing an additional 391 shares in the last quarter. Finally, D Orazio & Associates Inc. boosted its stake in shares of Pfizer by 5.5% in the 4th quarter. D Orazio & Associates Inc. now owns 7,549 shares of the biopharmaceutical company’s stock valued at $200,000 after purchasing an additional 391 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Performance

Shares of NYSE:PFE opened at $26.71 on Friday. The stock has a market capitalization of $151.35 billion, a P/E ratio of 18.94, a P/E/G ratio of 0.64 and a beta of 0.61. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $26.30 and a two-hundred day moving average price of $27.24.

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

Pfizer Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, January 24th were paid a $0.43 dividend. The ex-dividend date of this dividend was Friday, January 24th. This is a boost from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.44%. Pfizer’s dividend payout ratio is 121.99%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PFE shares. StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. 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. Truist Financial reduced their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Bank of America reiterated a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. Finally, Wolfe Research initiated coverage on shares of Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $31.92.

Insider Activity

In related news, Director Ronald E. Blaylock purchased 19,457 shares of the stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $25.65 per share, with a total value of $499,072.05. Following the purchase, the director now directly owns 27,707 shares in the company, valued at $710,684.55. The trade was a 235.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.06% of the stock is currently owned by company insiders.

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.