Oak Asset Management LLC Reduces Stock Holdings in Pfizer Inc. (NYSE:PFE)

Oak Asset Management LLC reduced its stake in shares of Pfizer Inc. (NYSE:PFE) by 30.8% during the fourth quarter, Holdings Channel reports. The firm owned 12,427 shares of the biopharmaceutical company’s stock after selling 5,528 shares during the quarter. Oak Asset Management LLC’s holdings in Pfizer were worth $330,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Gladius Capital Management LP grew its stake in Pfizer by 102.8% in the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 38,015 shares during the period. Quarry LP bought a new position in shares of Pfizer during the second quarter valued at $31,000. Teachers Insurance & Annuity Association of America bought a new stake in Pfizer in the 3rd quarter worth approximately $35,000. Joseph Group Capital Management boosted its holdings in shares of Pfizer by 168.3% in the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 771 shares during the last quarter. Finally, Kennebec Savings Bank bought a new stake in shares of Pfizer during the 3rd quarter valued at $50,000. 68.36% of the stock is currently owned by institutional investors.

Pfizer Stock Up 0.3 %

Shares of Pfizer stock opened at $26.79 on Tuesday. Pfizer Inc. has a 52-week low of $24.48 and a 52-week 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. The company has a market capitalization of $151.82 billion, a P/E ratio of 36.20, a P/E/G ratio of 0.63 and a beta of 0.64. The company has a 50 day moving average of $26.16 and a 200 day moving average of $28.04.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. Pfizer’s revenue for the quarter was up 31.2% on a year-over-year basis. As a group, research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders 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 dividend yield of 6.42%. The ex-dividend date is Friday, January 24th. Pfizer’s dividend payout ratio is presently 232.43%.

Insider Transactions at Pfizer

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PFE shares. UBS Group cut their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Guggenheim lowered their price objective on Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Bank of America restated a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. Finally, Truist Financial decreased their target price on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

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.