MMA Asset Management LLC Lowers Stock Position in Pfizer Inc. (NYSE:PFE)

MMA Asset Management LLC trimmed its stake in shares of Pfizer Inc. (NYSE:PFE) by 34.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,013 shares of the biopharmaceutical company’s stock after selling 11,110 shares during the period. MMA Asset Management LLC’s holdings in Pfizer were worth $557,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Swiss National Bank lifted its position in shares of Pfizer by 0.6% during the 3rd quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock valued at $486,762,000 after acquiring an additional 100,900 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Pfizer by 11.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock valued at $3,766,366,000 after buying an additional 12,864,343 shares in 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 buying an additional 227,349 shares in the last quarter. Addison Advisors LLC lifted its stake in Pfizer by 394.2% in the 3rd quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock valued at $1,512,000 after buying an additional 41,668 shares in the last quarter. Finally, KBC Group NV lifted its stake in Pfizer by 26.0% in the 3rd 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 in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Pfizer

In related news, Director Ronald E. Blaylock purchased 19,457 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was purchased 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 in the company, valued at approximately $710,684.55. This trade represents a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Guggenheim reaffirmed a “buy” rating and issued a $33.00 target price on shares of Pfizer in a research note on Monday, February 10th. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Truist Financial reduced their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Citigroup reduced their price target on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Finally, UBS Group reduced their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Pfizer has an average rating of “Moderate Buy” and a consensus target price of $31.92.

Pfizer Trading Up 1.3 %

PFE stock opened at $26.43 on Friday. The company has a market cap of $149.78 billion, a price-to-earnings ratio of 18.74, a PEG 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. The business has a fifty day simple moving average of $26.35 and a 200-day simple moving average of $27.33. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $17.26 billion. During the same period in the prior year, the firm posted $0.10 EPS. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. On average, equities research analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be issued a $0.43 dividend. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 6.51%. 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.