Absher Wealth Management LLC Sells 16,001 Shares of Pfizer Inc. (NYSE:PFE)

Absher Wealth Management LLC trimmed its holdings in Pfizer Inc. (NYSE:PFE) by 61.8% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 9,906 shares of the biopharmaceutical company’s stock after selling 16,001 shares during the quarter. Absher Wealth Management LLC’s holdings in Pfizer were worth $263,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Retirement Wealth Solutions LLC bought a new stake in Pfizer during the fourth quarter valued at approximately $26,000. Gladius Capital Management LP increased its stake 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 worth $30,000 after purchasing an additional 38,015 shares in the last quarter. Teachers Insurance & Annuity Association of America bought a new position in Pfizer in the 3rd quarter worth $35,000. Joseph Group Capital Management grew its holdings in Pfizer by 168.3% during the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 771 shares during the period. Finally, Sugar Maple Asset Management LLC bought a new position in shares of Pfizer in the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PFE shares. Sanford C. Bernstein initiated coverage on Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective on the stock. StockNews.com lowered shares of Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. UBS Group reduced their price target on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, Guggenheim reduced their target price on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Price Performance

NYSE PFE opened at $26.46 on Thursday. The firm’s fifty day simple moving average is $26.27 and its two-hundred day simple moving average is $27.79. The firm has a market capitalization of $149.94 billion, a P/E ratio of 35.76, a P/E/G ratio of 0.66 and a beta of 0.64. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 12-month low of $24.48 and a 12-month high of $31.54.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.15. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company had revenue of $17.76 billion for the quarter, compared to the consensus estimate of $17.26 billion. During the same quarter in the previous year, the firm earned $0.10 EPS. Pfizer’s revenue was up 24.7% compared to the same quarter last year. Analysts forecast that Pfizer Inc. will post 2.96 EPS for the current fiscal year.

Pfizer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 6.50%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s payout ratio is presently 232.44%.

Pfizer 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.