Centre Asset Management LLC Trims Position in Pfizer Inc. (NYSE:PFE)

Centre Asset Management LLC lessened its holdings in shares of Pfizer Inc. (NYSE:PFE) by 8.2% in the 4th quarter, HoldingsChannel reports. The firm owned 397,490 shares of the biopharmaceutical company’s stock after selling 35,424 shares during the quarter. Pfizer makes up approximately 2.4% of Centre Asset Management LLC’s holdings, making the stock its 15th largest holding. Centre Asset Management LLC’s holdings in Pfizer were worth $10,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PFE. Gladius Capital Management LP lifted its stake in shares of Pfizer by 102.8% in the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 38,015 shares during the period. Quarry LP acquired a new stake in shares of Pfizer in the second quarter worth approximately $31,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Pfizer during the third quarter worth approximately $35,000. Joseph Group Capital Management raised its stake in Pfizer by 168.3% in the 3rd 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 during the last quarter. Finally, Kennebec Savings Bank purchased a new position in Pfizer in the 3rd quarter valued at $50,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Performance

NYSE PFE traded down $0.03 during trading hours on Friday, hitting $26.58. 4,407,611 shares of the stock were exchanged, compared to its average volume of 18,233,549. 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 stock has a 50-day moving average of $26.37 and a 200 day moving average of $28.07. The company has a market cap of $150.63 billion, a price-to-earnings ratio of 35.92, a price-to-earnings-growth ratio of 0.63 and a beta of 0.65. Pfizer Inc. has a 12-month low of $24.48 and a 12-month high of $31.54.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same period in the previous year, the firm earned ($0.17) EPS. The business’s revenue was up 31.2% on a year-over-year basis. As a group, equities research analysts forecast that Pfizer Inc. will post 2.95 earnings per share 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 issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 6.47%. The ex-dividend date is Friday, January 24th. This is an increase from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is 232.43%.

Insider Buying and Selling at Pfizer

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $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 the SEC website. 0.06% of the stock is owned by insiders.

Analyst Ratings Changes

PFE has been the subject of a number of recent research reports. Citigroup assumed coverage on shares of Pfizer in a research report on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price for the company. Bank of America reiterated a “neutral” rating and set a $29.00 price target on shares of Pfizer in a report on Tuesday, December 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. Sanford C. Bernstein initiated coverage on shares of Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. Finally, Guggenheim lowered their price objective on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.14.

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.