Thrive Wealth Management LLC Sells 14,354 Shares of Pfizer Inc. (NYSE:PFE)

Thrive Wealth Management LLC reduced its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 26.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,271 shares of the biopharmaceutical company's stock after selling 14,354 shares during the quarter. Thrive Wealth Management LLC's holdings in Pfizer were worth $1,068,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Retirement Wealth Solutions LLC bought a new stake in shares of Pfizer in the 4th quarter worth $26,000. Gladius Capital Management LP boosted its holdings 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 during the last quarter. Quarry LP bought a new stake in Pfizer in the 2nd quarter worth about $31,000. Teachers Insurance & Annuity Association of America purchased a new stake in Pfizer in the 3rd quarter valued at about $35,000. Finally, Joseph Group Capital Management lifted its position 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 worth $36,000 after buying an additional 771 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on PFE shares. Evercore ISI raised Pfizer to a "strong-buy" rating in a research report on Wednesday, October 30th. Sanford C. Bernstein started coverage on Pfizer in a research report on Thursday, October 17th. They set a "market perform" rating and a $32.00 target price for the company. Bank of America reissued a "neutral" rating and issued a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. Truist Financial decreased their price objective on shares of Pfizer from $36.00 to $32.00 and set a "buy" rating for the company in a report on Wednesday, December 18th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $32.00.

Pfizer Stock Performance

Shares of NYSE:PFE traded down $0.19 during trading on Monday, hitting $26.30. 35,146,711 shares of the company were exchanged, compared to its average volume of 35,869,448. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54. The stock has a 50 day moving average of $26.08 and a 200 day moving average of $27.99. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The company has a market cap of $149.06 billion, a PE ratio of 35.55, a P/E/G ratio of 0.64 and a beta of 0.64.

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

Pfizer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, January 24th. This is an increase from Pfizer's previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 6.54%. Pfizer's payout ratio is currently 227.03%.

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.