Cullinan Associates Inc. Sells 1,650 Shares of Pfizer Inc. (NYSE:PFE)

Cullinan Associates Inc. lessened its holdings in Pfizer Inc. (NYSE:PFE) by 2.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 63,254 shares of the biopharmaceutical company’s stock after selling 1,650 shares during the period. Cullinan Associates Inc.’s holdings in Pfizer were worth $1,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Retirement Wealth Solutions LLC bought a new stake in shares of Pfizer in the 4th quarter valued at approximately $26,000. Gladius Capital Management LP boosted 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 in the last quarter. Quarry LP acquired a new stake in shares of Pfizer during the 2nd quarter worth about $31,000. Teachers Insurance & Annuity Association of America bought a new position in Pfizer during the 3rd quarter valued at about $35,000. Finally, Joseph Group Capital Management grew its stake in Pfizer by 168.3% during the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 771 shares during the last quarter. 68.36% of the stock is owned by institutional investors.

Pfizer Trading Down 1.1 %

Shares of NYSE PFE opened at $26.23 on Tuesday. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. The stock has a market cap of $148.62 billion, a price-to-earnings ratio of 35.44, a P/E/G ratio of 0.66 and a beta of 0.64. 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 company’s fifty day moving average is $26.27 and its 200-day moving average is $27.85.

Pfizer (NYSE:PFE) last posted its 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 return on equity of 16.28% and a net margin of 7.07%. Equities research analysts predict that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be given a dividend of $0.43 per share. This is an increase from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. This represents a $1.72 annualized dividend and a dividend yield of 6.56%. Pfizer’s dividend payout ratio is currently 232.44%.

Analyst Ratings Changes

PFE has been the subject of a number of research analyst reports. Bank of America reiterated a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday, October 23rd. Sanford C. Bernstein began coverage on shares of Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. Finally, Truist Financial reduced their target price on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and a consensus target price of $31.92.

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.