Magnus Financial Group LLC Has $1.12 Million Position in Pfizer Inc. (NYSE:PFE)

Magnus Financial Group LLC trimmed its position in shares of Pfizer Inc. (NYSE:PFE) by 4.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 42,186 shares of the biopharmaceutical company’s stock after selling 1,890 shares during the period. Magnus Financial Group LLC’s holdings in Pfizer were worth $1,119,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Retirement Wealth Solutions LLC bought a new stake in Pfizer during the 4th quarter worth approximately $26,000. Gladius Capital Management LP lifted its holdings in shares of 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 purchasing an additional 38,015 shares during the period. Quarry LP acquired a new position in shares of Pfizer during the second quarter worth $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in Pfizer in the third quarter valued at $35,000. Finally, Joseph Group Capital Management raised its position in 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 last quarter. 68.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PFE has been the topic of a number of analyst reports. Guggenheim reduced their price target on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Bank of America reissued a “neutral” rating and set a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. Citigroup assumed coverage on shares of Pfizer in a research report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target on the stock. Sanford C. Bernstein began coverage on shares of Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective for the company. Finally, Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. 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 issued a strong buy rating to the company. According to MarketBeat, Pfizer has an average rating of “Moderate Buy” and an average target price of $32.00.

Pfizer Stock Performance

Shares of Pfizer stock opened at $26.01 on Thursday. The business has a 50-day simple moving average of $26.09 and a 200 day simple moving average of $27.97. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The firm has a market capitalization of $147.40 billion, a price-to-earnings ratio of 35.15, a PEG ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last issued its 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. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same period in the prior year, the firm earned ($0.17) earnings per share. Pfizer’s revenue for the quarter was up 31.2% on a year-over-year basis. On average, research analysts anticipate that Pfizer Inc. will post 2.94 earnings per share for the current fiscal 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 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 6.61%. Pfizer’s payout ratio is presently 227.03%.

Insider Buying and Selling

In related news, Director Scott Gottlieb acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now 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 purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by company insiders.

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.