Addenda Capital Inc. Trims Stock Position in Pfizer Inc. (NYSE:PFE)

Addenda Capital Inc. trimmed its position in Pfizer Inc. (NYSE:PFE) by 0.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 198,688 shares of the biopharmaceutical company’s stock after selling 561 shares during the period. Addenda Capital Inc.’s holdings in Pfizer were worth $5,271,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Retirement Wealth Solutions LLC acquired a new position in shares of Pfizer in the 4th quarter valued at $26,000. Gladius Capital Management LP increased its stake in Pfizer by 102.8% during the third 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. Quarry LP purchased a new position in shares of Pfizer in the 2nd quarter worth about $31,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Pfizer in the 3rd quarter valued at about $35,000. Finally, Joseph Group Capital Management grew its holdings in shares of Pfizer by 168.3% during the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 771 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Down 0.7 %

PFE opened at $26.30 on Tuesday. The company has a market capitalization of $149.06 billion, a P/E ratio of 35.55, a P/E/G ratio of 0.63 and a beta of 0.64. 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 Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The stock has a fifty day moving average of $26.08 and a 200-day moving average of $27.99.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The firm had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business’s revenue was up 31.2% compared to the same quarter last year. During the same period last year, the business posted ($0.17) EPS. On average, equities analysts expect that Pfizer Inc. will post 2.94 EPS for the current year.

Pfizer Increases Dividend

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

Analysts Set New Price Targets

PFE has been the topic of a number of recent research reports. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. Sanford C. Bernstein initiated coverage on shares of Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective on the stock. Evercore ISI raised Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Citigroup assumed coverage on Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target for the company. Finally, StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Pfizer has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Insider Buying and Selling at Pfizer

In other news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were acquired at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. This trade represents a 11.11 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.06% of the company’s stock.

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.