Forza Wealth Management LLC Has $314,000 Stock Holdings in Pfizer Inc. (NYSE:PFE)

Forza Wealth Management LLC reduced its holdings in shares of Pfizer Inc. (NYSE:PFE) by 36.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,852 shares of the biopharmaceutical company’s stock after selling 6,908 shares during the quarter. Forza Wealth Management LLC’s holdings in Pfizer were worth $314,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wells Trecaso Financial Group LLC boosted its position in Pfizer by 2.5% during the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after acquiring an additional 350 shares in the last quarter. Washington Trust Advisors Inc. lifted its stake in shares of Pfizer by 0.7% during the 3rd quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company’s stock worth $1,424,000 after purchasing an additional 360 shares during the last quarter. Cullen Investment Group LTD. grew its stake in Pfizer by 0.9% in the third quarter. Cullen Investment Group LTD. now owns 42,677 shares of the biopharmaceutical company’s stock valued at $1,235,000 after purchasing an additional 377 shares during the last quarter. MidWestOne Financial Group Inc. raised its holdings in Pfizer by 1.5% in the second quarter. MidWestOne Financial Group Inc. now owns 26,530 shares of the biopharmaceutical company’s stock worth $742,000 after purchasing an additional 386 shares in the last quarter. Finally, Western Pacific Wealth Management LP lifted its position in shares of Pfizer by 10.5% during the third quarter. Western Pacific Wealth Management LP now owns 4,073 shares of the biopharmaceutical company’s stock valued at $118,000 after buying an additional 386 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Trading Down 0.0 %

Shares of PFE stock traded down $0.01 during trading hours on Monday, hitting $26.71. The company had a trading volume of 18,772,370 shares, compared to its average volume of 33,095,820. Pfizer Inc. has a fifty-two week low of $24.48 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 $26.18 and its 200 day moving average is $28.04. The stock has a market capitalization of $151.37 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 0.63 and a beta of 0.64.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. During the same period in the previous year, the firm posted ($0.17) earnings per share. The company’s revenue was up 31.2% on a year-over-year basis. Research analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be paid a dividend of $0.43 per share. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 6.44%. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s dividend payout ratio is presently 232.43%.

Insiders Place Their Bets

In related news, Director Scott Gottlieb acquired 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $282,400. This represents a 11.11 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. UBS Group decreased their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Truist Financial cut their price objective on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Wolfe Research began coverage on shares of Pfizer in a research note on Friday, November 15th. They set an “underperform” rating and a $25.00 price objective on the stock. Citigroup started coverage on Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

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.