First City Capital Management Inc. Has $1.36 Million Stake in Pfizer Inc. (NYSE:PFE)

First City Capital Management Inc. reduced its stake in shares of Pfizer Inc. (NYSE:PFE) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,368 shares of the biopharmaceutical company’s stock after selling 646 shares during the quarter. First City Capital Management Inc.’s holdings in Pfizer were worth $1,363,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Gladius Capital Management LP grew its holdings in shares of Pfizer by 102.8% in the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 38,015 shares during the period. Quarry LP bought a new position in shares of Pfizer during the 2nd quarter worth approximately $31,000. Teachers Insurance & Annuity Association of America bought a new stake in Pfizer during the 3rd quarter worth about $35,000. Joseph Group Capital Management grew its holdings in shares of Pfizer by 168.3% in the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 771 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Pfizer in the second quarter valued at about $38,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Pfizer

In other news, Director Scott Gottlieb purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average cost of $28.24 per share, with a total value 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by insiders.

Pfizer Price Performance

Shares of PFE stock traded up $0.08 during trading hours on Friday, reaching $26.69. The company’s stock had a trading volume of 13,499,254 shares, compared to its average volume of 23,003,166. 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 fifty-two week low of $24.48 and a fifty-two week high of $31.54. The company has a market capitalization of $151.25 billion, a price-to-earnings ratio of 36.07, a PEG ratio of 0.63 and a beta of 0.65. The firm’s 50 day simple moving average is $26.37 and its 200-day simple moving average is $28.07.

Pfizer (NYSE:PFE) last issued its quarterly earnings data 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. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same quarter in the previous year, the company posted ($0.17) EPS. Pfizer’s quarterly revenue was up 31.2% compared to the same quarter last year. Sell-side analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, January 24th. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 6.44%. Pfizer’s payout ratio is presently 232.43%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PFE shares. Sanford C. Bernstein initiated coverage on Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. 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. Bank of America reiterated a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. Truist Financial cut their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Finally, Wolfe Research assumed coverage on Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.14.

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.