Cypress Capital Group Has $2.76 Million Position in Pfizer Inc. (NYSE:PFE)

Cypress Capital Group reduced its position in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 14.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,097 shares of the biopharmaceutical company's stock after selling 17,217 shares during the period. Cypress Capital Group's holdings in Pfizer were worth $2,762,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Retirement Wealth Solutions LLC acquired a new position in shares of Pfizer in the 4th quarter valued at $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Pfizer in the 4th quarter valued at $28,000. Gladius Capital Management LP boosted its position 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 valued at $30,000 after purchasing an additional 38,015 shares during the period. Noble Wealth Management PBC acquired a new position in shares of Pfizer in the 4th quarter valued at $31,000. Finally, Sierra Ocean LLC acquired a new position in shares of Pfizer in the 4th quarter valued at $34,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Stock Performance

NYSE PFE traded up $0.18 during trading on Wednesday, hitting $25.93. The company's stock had a trading volume of 37,049,759 shares, compared to its average volume of 39,279,996. 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 firm has a 50 day moving average price of $26.31 and a 200 day moving average price of $27.27. The firm has a market cap of $146.93 billion, a P/E ratio of 18.39, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings data 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 return on equity of 19.47% and a net margin of 12.62%. The company had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same quarter last year, the firm earned $0.10 EPS. Pfizer's revenue for the quarter was up 24.7% compared to the same quarter last year. Equities research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be paid a $0.43 dividend. 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. This represents a $1.72 annualized dividend and a yield of 6.63%. Pfizer's payout ratio is currently 121.99%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Truist Financial decreased their price target on Pfizer from $36.00 to $32.00 and set a "buy" rating for the company in a research report on Wednesday, December 18th. StockNews.com lowered Pfizer from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, November 20th. Guggenheim restated a "buy" rating and set a $33.00 price objective on shares of Pfizer in a research report on Monday, February 10th. Citigroup decreased their price objective on Pfizer from $30.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, January 28th. Finally, Wolfe Research started coverage on Pfizer in a research report on Friday, November 15th. They set an "underperform" rating and a $25.00 price objective for the company. One equities research 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $31.92.

Insider Activity at Pfizer

In related news, Director Ronald E. Blaylock purchased 19,457 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average price of $25.65 per share, with a total value of $499,072.05. Following the purchase, the director now directly owns 27,707 shares in the company, valued at $710,684.55. This represents a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.06% of the stock is owned by 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.