Ballentine Partners LLC Sells 4,373 Shares of Pfizer Inc. (NYSE:PFE)

Ballentine Partners LLC reduced its stake in Pfizer Inc. (NYSE:PFE) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,488 shares of the biopharmaceutical company’s stock after selling 4,373 shares during the period. Ballentine Partners LLC’s holdings in Pfizer were worth $2,772,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PFE. Thrivent Financial for Lutherans raised its holdings in Pfizer by 2.8% in the second quarter. Thrivent Financial for Lutherans now owns 739,236 shares of the biopharmaceutical company’s stock worth $20,684,000 after purchasing an additional 20,140 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Pfizer by 7.3% in the 2nd quarter. ProShare Advisors LLC now owns 845,638 shares of the biopharmaceutical company’s stock worth $23,661,000 after acquiring an additional 57,825 shares in the last quarter. 1832 Asset Management L.P. lifted its position in Pfizer by 24,961.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,497,886 shares of the biopharmaceutical company’s stock valued at $69,891,000 after acquiring an additional 2,487,919 shares during the period. Fidelis Capital Partners LLC boosted its stake in Pfizer by 1.7% during the second quarter. Fidelis Capital Partners LLC now owns 24,568 shares of the biopharmaceutical company’s stock worth $709,000 after acquiring an additional 412 shares in the last quarter. Finally, Gabelli Funds LLC grew its holdings in Pfizer by 4.5% in the second quarter. Gabelli Funds LLC now owns 742,113 shares of the biopharmaceutical company’s stock worth $20,764,000 after purchasing an additional 31,700 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PFE shares. Guggenheim lowered their target price on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. Truist Financial dropped their target price on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Finally, Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Insider Buying and Selling at Pfizer

In other Pfizer news, Director Scott Gottlieb acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $282,400. This represents a 11.11 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Pfizer Stock Down 0.7 %

PFE opened at $26.30 on Tuesday. The stock has a market capitalization of $149.06 billion, a price-to-earnings ratio of 35.55, a PEG ratio of 0.63 and a beta of 0.64. The firm has a 50 day moving average price of $26.08 and a 200-day moving average price of $27.99. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. 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 (NYSE:PFE) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The business had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.17) EPS. Equities research analysts forecast that Pfizer Inc. will post 2.94 earnings per share for the current year.

Pfizer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be paid a dividend of $0.43 per share. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.54%. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s payout ratio is currently 227.03%.

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.