Redmond Asset Management LLC Invests $480,000 in Pfizer Inc. (NYSE:PFE)

Redmond Asset Management LLC purchased a new position in Pfizer Inc. (NYSE:PFE - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,083 shares of the biopharmaceutical company's stock, valued at approximately $480,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Prentice Wealth Management LLC lifted its stake in Pfizer by 9.1% in the fourth quarter. Prentice Wealth Management LLC now owns 17,692 shares of the biopharmaceutical company's stock worth $469,000 after acquiring an additional 1,481 shares during the period. Deseret Mutual Benefit Administrators lifted its stake in Pfizer by 5.1% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 38,746 shares of the biopharmaceutical company's stock worth $1,028,000 after acquiring an additional 1,874 shares during the period. Bell Bank lifted its stake in Pfizer by 18.9% in the fourth quarter. Bell Bank now owns 331,802 shares of the biopharmaceutical company's stock worth $8,803,000 after acquiring an additional 52,771 shares during the period. Drum Hill Capital LLC purchased a new stake in Pfizer in the fourth quarter worth about $243,000. Finally, Capital Advisory Group Advisory Services LLC purchased a new stake in Pfizer in the fourth quarter worth about $292,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on PFE shares. Wolfe Research started coverage on shares of Pfizer in a research report on Friday, November 15th. They set an "underperform" rating and a $25.00 price target for the company. Citigroup decreased their price target on shares of Pfizer from $30.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, January 28th. UBS Group decreased their price target 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. Evercore ISI raised shares of Pfizer to a "strong-buy" rating in a research report on Wednesday, October 30th. Finally, Guggenheim reissued a "buy" rating and set a $33.00 price target on shares of Pfizer in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $31.92.

Insider Buying and Selling

In other Pfizer news, Director Ronald E. Blaylock purchased 19,457 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the acquisition, the director now 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 acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.06% of the stock is owned by corporate insiders.

Pfizer Stock Performance

Shares of Pfizer stock opened at $26.32 on Friday. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54. The company has a 50 day moving average price of $26.30 and a 200 day moving average price of $27.41. 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 market capitalization of $149.14 billion, a P/E ratio of 18.66, a PEG ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings results 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 net margin of 12.62% and a return on equity of 19.47%. The company had revenue of $17.76 billion for the quarter, compared to the consensus estimate of $17.26 billion. During the same quarter in the prior year, the company earned $0.10 EPS. Pfizer's quarterly revenue was up 24.7% on a year-over-year basis. Sell-side analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The firm also recently declared 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 annualized dividend and a yield of 6.54%. The ex-dividend date of this dividend is Friday, January 24th. This is an increase from Pfizer's previous quarterly dividend of $0.42. Pfizer's dividend payout ratio is 121.99%.

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.

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