Wedge Capital Management L L P NC Cuts Stock Holdings in Pfizer Inc. (NYSE:PFE)

Wedge Capital Management L L P NC cut its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,101,225 shares of the biopharmaceutical company's stock after selling 13,976 shares during the quarter. Wedge Capital Management L L P NC's holdings in Pfizer were worth $29,215,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PFE. Gladius Capital Management LP raised its stake in 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. Quarry LP acquired a new stake in shares of Pfizer during the 2nd quarter worth $31,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Pfizer in the third quarter worth $35,000. Joseph Group Capital Management raised 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 valued at $36,000 after purchasing an additional 771 shares in the last quarter. Finally, Kennebec Savings Bank bought a new stake in Pfizer during the third quarter worth about $50,000. Institutional investors and hedge funds own 68.36% of the company's stock.

Insider Buying and Selling at Pfizer

In other news, Director Scott Gottlieb acquired 1,000 shares of Pfizer stock in a transaction on Wednesday, October 30th. The stock was purchased at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the purchase, the director now owns 10,000 shares of the company's stock, valued at approximately $282,400. The trade was a 11.11 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PFE shares. Wolfe Research began coverage on shares of Pfizer in a research report on Friday, November 15th. They issued an "underperform" rating and a $25.00 target price for the company. Truist Financial cut their target price on Pfizer from $36.00 to $32.00 and set a "buy" rating for the company in a research note on Wednesday, December 18th. Citigroup started coverage on Pfizer in a research note on Friday, October 25th. They issued a "neutral" rating and a $30.00 price target on the stock. UBS Group reduced their price objective on Pfizer from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Pfizer currently has a consensus rating of "Moderate Buy" and an average price target of $32.00.

Pfizer Trading Down 0.7 %

PFE stock traded down $0.19 during trading on Friday, hitting $26.30. The company had a trading volume of 35,146,711 shares, compared to its average volume of 35,869,448. 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 one year low of $24.48 and a one year high of $31.54. The business has a 50-day moving average of $26.08 and a 200-day moving average of $27.99. The stock has a market cap of $149.06 billion, a PE ratio of 35.55, a PEG ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share 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 analysts' expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. Pfizer's revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.17) earnings per share. Research analysts predict that Pfizer Inc. will post 2.94 earnings per share for the current fiscal year.

Pfizer Increases Dividend

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