Steel Grove Capital Advisors LLC Reduces Position in Pfizer Inc. (NYSE:PFE)

Steel Grove Capital Advisors LLC reduced its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 77.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,789 shares of the biopharmaceutical company's stock after selling 44,678 shares during the period. Steel Grove Capital Advisors LLC's holdings in Pfizer were worth $339,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. PSI Advisors LLC boosted its holdings in Pfizer by 1.4% during the fourth quarter. PSI Advisors LLC now owns 27,823 shares of the biopharmaceutical company's stock worth $738,000 after buying an additional 385 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its position in shares of Pfizer by 1.0% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 38,706 shares of the biopharmaceutical company's stock valued at $1,027,000 after acquiring an additional 391 shares during the period. D Orazio & Associates Inc. increased its stake in shares of Pfizer by 5.5% in the 4th quarter. D Orazio & Associates Inc. now owns 7,549 shares of the biopharmaceutical company's stock valued at $200,000 after purchasing an additional 391 shares in the last quarter. Lipe & Dalton raised its position in shares of Pfizer by 17.7% during the 4th quarter. Lipe & Dalton now owns 2,659 shares of the biopharmaceutical company's stock worth $71,000 after purchasing an additional 400 shares during the last quarter. Finally, Oliver Luxxe Assets LLC boosted its holdings in Pfizer by 2.2% in the 4th quarter. Oliver Luxxe Assets LLC now owns 18,811 shares of the biopharmaceutical company's stock worth $499,000 after buying an additional 401 shares during the last quarter. Institutional investors own 68.36% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PFE shares. Cantor Fitzgerald started coverage on Pfizer in a report on Tuesday. They issued a "neutral" rating and a $24.00 price objective on the stock. UBS Group dropped their price objective on shares of Pfizer from $28.00 to $24.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Citigroup reiterated a "neutral" rating on shares of Pfizer in a report on Thursday, March 27th. Hsbc Global Res upgraded Pfizer to a "strong-buy" rating in a research report on Monday, March 10th. Finally, Guggenheim reiterated a "buy" rating on shares of Pfizer in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.57.

Insider Activity

In other Pfizer news, Director Ronald E. Blaylock purchased 19,457 shares of the firm's stock in a transaction on Thursday, February 13th. The stock was bought at an average price of $25.65 per share, with a total value of $499,072.05. Following the transaction, the director now directly owns 27,707 shares of the company's stock, valued at approximately $710,684.55. This represents a 235.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.06% of the company's stock.

Pfizer Trading Down 0.7 %

Shares of PFE stock traded down $0.15 during trading hours on Wednesday, hitting $22.38. The company had a trading volume of 50,748,501 shares, compared to its average volume of 40,559,660. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $31.54. 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's fifty day moving average is $24.69 and its 200 day moving average is $26.06. The stock has a market capitalization of $126.93 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 0.64 and a beta of 0.67.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.15. The company had revenue of $17.76 billion for the quarter, compared to analysts' expectations of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm's revenue was up 24.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share. Research analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 9th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 7.69%. Pfizer's dividend payout ratio is presently 121.99%.

About Pfizer

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.