Rhumbline Advisers Reduces Holdings in Pfizer Inc. (NYSE:PFE)

Rhumbline Advisers cut its position in Pfizer Inc. (NYSE:PFE) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,673,147 shares of the biopharmaceutical company’s stock after selling 55,458 shares during the quarter. Rhumbline Advisers owned 0.17% of Pfizer worth $256,629,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PFE. Creative Planning increased its holdings in Pfizer by 17.1% during the 3rd quarter. Creative Planning now owns 1,820,731 shares of the biopharmaceutical company’s stock worth $52,692,000 after purchasing an additional 266,167 shares during the last quarter. Swedbank AB grew its position in shares of Pfizer by 0.7% during the third quarter. Swedbank AB now owns 5,745,831 shares of the biopharmaceutical company’s stock worth $166,284,000 after buying an additional 37,636 shares in the last quarter. Cornerstone Wealth Management LLC increased its stake in shares of Pfizer by 8.1% in the third quarter. Cornerstone Wealth Management LLC now owns 77,912 shares of the biopharmaceutical company’s stock worth $2,255,000 after buying an additional 5,854 shares during the last quarter. nVerses Capital LLC raised its holdings in Pfizer by 154.1% in the third quarter. nVerses Capital LLC now owns 15,500 shares of the biopharmaceutical company’s stock valued at $449,000 after acquiring an additional 9,400 shares in the last quarter. Finally, Good Life Advisors LLC boosted its stake in Pfizer by 7.4% during the 3rd quarter. Good Life Advisors LLC now owns 56,199 shares of the biopharmaceutical company’s stock valued at $1,626,000 after acquiring an additional 3,869 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. UBS Group dropped their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Truist Financial cut their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Wednesday, October 23rd. Finally, Bank of America reissued a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and an average target price of $31.92.

Insider Activity at Pfizer

In other Pfizer news, Director Ronald E. Blaylock purchased 19,457 shares of Pfizer stock in a transaction on Thursday, February 13th. The stock was bought at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the transaction, the director now owns 27,707 shares of the company’s stock, valued at $710,684.55. The trade was a 235.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.06% of the stock is owned by insiders.

Pfizer Stock Performance

PFE stock opened at $25.50 on Friday. The stock’s fifty day moving average is $26.28 and its two-hundred day moving average is $27.62. The stock has a market capitalization of $144.48 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 0.64 and a beta of 0.64. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.15. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The firm had revenue of $17.76 billion for the quarter, compared to the consensus estimate of $17.26 billion. During the same period last year, the firm posted $0.10 EPS. Pfizer’s quarterly revenue was up 24.7% compared to the same quarter last year. On average, research analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 6.75%. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s dividend payout ratio is 121.99%.

Pfizer Company 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.