Sonora Investment Management Group LLC Trims Position in Pfizer Inc. (NYSE:PFE)

Sonora Investment Management Group LLC decreased its position in Pfizer Inc. (NYSE:PFE - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 358,748 shares of the biopharmaceutical company's stock after selling 16,361 shares during the period. Sonora Investment Management Group LLC's holdings in Pfizer were worth $9,518,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PFE. Wells Trecaso Financial Group LLC lifted its stake in Pfizer by 2.5% during the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company's stock valued at $416,000 after acquiring an additional 350 shares in the last quarter. Washington Trust Advisors Inc. raised its holdings in shares of Pfizer by 0.7% in the third quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company's stock valued at $1,424,000 after purchasing an additional 360 shares during the last quarter. Cullen Investment Group LTD. raised its holdings in shares of Pfizer by 0.9% in the third quarter. Cullen Investment Group LTD. now owns 42,677 shares of the biopharmaceutical company's stock valued at $1,235,000 after purchasing an additional 377 shares during the last quarter. PSI Advisors LLC lifted its position in shares of Pfizer by 1.4% during the fourth quarter. PSI Advisors LLC now owns 27,823 shares of the biopharmaceutical company's stock valued at $738,000 after purchasing an additional 385 shares in the last quarter. Finally, Western Pacific Wealth Management LP boosted its holdings in Pfizer by 10.5% during the third quarter. Western Pacific Wealth Management LP now owns 4,073 shares of the biopharmaceutical company's stock worth $118,000 after purchasing an additional 386 shares during the last quarter. Institutional investors own 68.36% of the company's stock.

Pfizer Stock Performance

Shares of PFE stock traded down $0.30 during trading on Monday, reaching $26.23. 48,924,457 shares of the company's stock traded hands, compared to its average volume of 36,513,984. The firm's 50-day moving average is $26.27 and its 200 day moving average is $27.85. The company has a market capitalization of $148.62 billion, a P/E ratio of 35.44, a PEG ratio of 0.66 and a beta of 0.64. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be given a $0.43 dividend. The ex-dividend date of this dividend is Friday, January 24th. 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 6.56%. Pfizer's payout ratio is 232.44%.

Analyst Upgrades and Downgrades

PFE has been the subject of several analyst reports. Guggenheim decreased their price objective on shares of Pfizer from $35.00 to $33.00 and set a "buy" rating for the company in a research note on Wednesday, December 11th. StockNews.com lowered Pfizer from a "strong-buy" rating to a "buy" rating in a report on Wednesday, November 20th. Citigroup reduced their price objective on Pfizer from $30.00 to $29.00 and set a "neutral" rating for the company in a research note on Tuesday, January 28th. Sanford C. Bernstein began coverage on Pfizer in a research note on Thursday, October 17th. They set a "market perform" rating and a $32.00 target price on the stock. Finally, Wolfe Research assumed 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $31.92.

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.