Perkins Coie Trust Co Reduces Stock Position in Pfizer Inc. (NYSE:PFE)

Perkins Coie Trust Co cut its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 12.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,736 shares of the biopharmaceutical company's stock after selling 14,292 shares during the period. Perkins Coie Trust Co's holdings in Pfizer were worth $2,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Retirement Wealth Solutions LLC acquired a new position in Pfizer in the fourth quarter valued at about $26,000. Gladius Capital Management LP lifted its stake in 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 in the last quarter. Quarry LP purchased 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 approximately $35,000. Finally, Joseph Group Capital Management lifted its stake in Pfizer by 168.3% in the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company's stock worth $36,000 after acquiring an additional 771 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company's stock.

Pfizer Stock Performance

Pfizer stock traded down $0.19 during mid-day trading on Friday, reaching $26.30. 35,146,711 shares of the company were exchanged, compared to its average volume of 35,869,448. 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's 50-day simple moving average is $26.08 and its two-hundred day simple moving average is $27.99. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. The firm has a market cap of $149.06 billion, a PE ratio of 35.55, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. Pfizer's quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.17) EPS. Equities analysts predict that Pfizer Inc. will post 2.94 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be issued a $0.43 dividend. This is a boost from Pfizer's previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 6.54%. The ex-dividend date is Friday, January 24th. Pfizer's dividend payout ratio (DPR) is currently 232.43%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PFE. StockNews.com lowered shares of Pfizer from a "strong-buy" rating to a "buy" rating in a report on Wednesday, November 20th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. Citigroup began coverage on shares of Pfizer in a research report on Friday, October 25th. They set a "neutral" rating and a $30.00 price objective for the company. Bank of America reaffirmed a "neutral" rating and issued a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. Finally, Evercore ISI raised shares of Pfizer to a "strong-buy" rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $32.00.

Insider Activity at Pfizer

In related news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were bought at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the transaction, the director now owns 10,000 shares of the company's stock, valued at $282,400. This represents a 11.11 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.06% of the company's stock.

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.