Wallace Capital Management Inc. Trims Stake in Pfizer Inc. (NYSE:PFE)

Wallace Capital Management Inc. lessened its stake in shares of Pfizer Inc. (NYSE:PFE) by 20.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,412 shares of the biopharmaceutical company’s stock after selling 2,100 shares during the quarter. Wallace Capital Management Inc.’s holdings in Pfizer were worth $223,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Wellington Wealth Strategies LLC. purchased a new stake in shares of Pfizer during the fourth quarter worth about $264,000. William B. Walkup & Associates Inc. boosted its holdings in shares of Pfizer by 1.2% during the fourth quarter. William B. Walkup & Associates Inc. now owns 39,368 shares of the biopharmaceutical company’s stock worth $1,044,000 after purchasing an additional 454 shares during the last quarter. Woodline Partners LP increased its stake in shares of Pfizer by 17.0% during the 4th quarter. Woodline Partners LP now owns 1,318,490 shares of the biopharmaceutical company’s stock valued at $34,980,000 after acquiring an additional 191,957 shares during the last quarter. Zimmer Partners LP purchased a new position in shares of Pfizer during the 4th quarter worth about $22,129,000. Finally, iSAM Funds UK Ltd acquired a new stake in shares of Pfizer in the fourth quarter worth approximately $595,000. 68.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PFE has been the subject of several research analyst reports. Citigroup reaffirmed a “neutral” rating on shares of Pfizer in a research report on Thursday, March 27th. The Goldman Sachs Group restated a “neutral” rating and set a $25.00 price objective (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. Cantor Fitzgerald assumed coverage on Pfizer in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $24.00 target price on the stock. Finally, Hsbc Global Res upgraded Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

Pfizer Stock Up 0.8%

NYSE PFE opened at $23.01 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $31.54. The business has a 50 day moving average price of $23.60 and a two-hundred day moving average price of $25.28. The stock has a market cap of $130.82 billion, a PE ratio of 16.32, a P/E/G ratio of 0.64 and a beta of 0.58.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The firm had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. During the same quarter in the previous year, the firm posted $0.82 EPS. The firm’s quarterly revenue was down 7.8% on a year-over-year basis. As a group, sell-side analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.72 annualized dividend and a dividend yield of 7.48%. Pfizer’s payout ratio is 124.64%.

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.