Institute for Wealth Management LLC. Sells 1,803 Shares of Pfizer Inc. (NYSE:PFE)

Institute for Wealth Management LLC. cut its holdings in Pfizer Inc. (NYSE:PFE) by 7.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 23,075 shares of the biopharmaceutical company’s stock after selling 1,803 shares during the period. Institute for Wealth Management LLC.’s holdings in Pfizer were worth $612,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Retirement Wealth Solutions LLC bought a new position in Pfizer in the 4th quarter valued at approximately $26,000. Gladius Capital Management LP lifted its holdings in shares of Pfizer by 102.8% during 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 valued at $31,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Pfizer during the 3rd quarter valued at $35,000. Finally, Joseph Group Capital Management lifted 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 valued at $36,000 after buying an additional 771 shares during the period. 68.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PFE shares. Sanford C. Bernstein started coverage on Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. Evercore ISI raised Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. UBS Group reduced their price objective on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Citigroup reduced their price objective on Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Guggenheim reduced 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Trading Down 1.5 %

Shares of PFE stock opened at $26.51 on Friday. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The firm has a market capitalization of $150.20 billion, a PE ratio of 35.82, a PEG ratio of 0.64 and a beta of 0.64. The stock has a fifty day simple moving average of $26.25 and a two-hundred day simple moving average of $27.89.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping 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 return on equity of 16.28% and a net margin of 7.07%. Pfizer’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.17) EPS. On average, analysts predict that Pfizer Inc. will post 2.96 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 given a dividend of $0.43 per share. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.49%. Pfizer’s dividend payout ratio (DPR) is presently 232.44%.

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.