DAVENPORT & Co LLC Has $8.65 Million Stock Holdings in Pfizer Inc. (NYSE:PFE)

DAVENPORT & Co LLC reduced its stake in shares of Pfizer Inc. (NYSE:PFE) by 9.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 326,172 shares of the biopharmaceutical company’s stock after selling 34,439 shares during the period. DAVENPORT & Co LLC’s holdings in Pfizer were worth $8,652,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PFE. Retirement Wealth Solutions LLC bought a new stake in Pfizer in the 4th quarter valued at $26,000. Gladius Capital Management LP boosted its position in shares of Pfizer by 102.8% during the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 38,015 shares during the period. Quarry LP bought a new position in shares of Pfizer during the second quarter worth about $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in Pfizer in the 3rd quarter valued at approximately $35,000. Finally, Joseph Group Capital Management lifted 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 acquiring an additional 771 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PFE shares. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. StockNews.com lowered shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Sanford C. Bernstein started coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective for the company. Bank of America reaffirmed a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. Finally, Truist Financial reduced their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Pfizer has an average rating of “Moderate Buy” and a consensus target price of $31.92.

Pfizer Price Performance

NYSE:PFE opened at $26.51 on Monday. The company has a market cap of $150.20 billion, a P/E ratio of 35.82, a P/E/G ratio of 0.64 and a beta of 0.64. The firm’s fifty day moving average price is $26.27 and its two-hundred day moving average price is $27.86. Pfizer Inc. has a one year low of $24.48 and a one year 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.

Pfizer Increases Dividend

The business 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 is a boost from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 6.49%. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s dividend payout ratio is currently 232.44%.

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.