Richard P Slaughter Associates Inc Cuts Position in Pfizer Inc. (NYSE:PFE)

Richard P Slaughter Associates Inc lowered its position in shares of Pfizer Inc. (NYSE:PFE) by 5.8% in the 4th quarter, HoldingsChannel reports. The firm owned 129,355 shares of the biopharmaceutical company’s stock after selling 8,016 shares during the quarter. Pfizer makes up about 0.8% of Richard P Slaughter Associates Inc’s holdings, making the stock its 29th biggest holding. Richard P Slaughter Associates Inc’s holdings in Pfizer were worth $3,432,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wells Trecaso Financial Group LLC grew its stake in shares of Pfizer by 2.5% during the third quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after buying an additional 350 shares during the last quarter. Washington Trust Advisors Inc. boosted its position in Pfizer by 0.7% during the 3rd quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company’s stock valued at $1,424,000 after buying an additional 360 shares during the period. Cullen Investment Group LTD. grew its holdings in Pfizer by 0.9% in the 3rd quarter. Cullen Investment Group LTD. now owns 42,677 shares of the biopharmaceutical company’s stock worth $1,235,000 after acquiring an additional 377 shares during the last quarter. PSI Advisors LLC increased its position in shares of Pfizer by 1.4% in the fourth quarter. PSI Advisors LLC now owns 27,823 shares of the biopharmaceutical company’s stock valued at $738,000 after acquiring an additional 385 shares during the period. Finally, MidWestOne Financial Group Inc. raised its stake in shares of Pfizer by 1.5% during the second quarter. MidWestOne Financial Group Inc. now owns 26,530 shares of the biopharmaceutical company’s stock valued at $742,000 after acquiring an additional 386 shares during the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Price Performance

NYSE PFE opened at $26.41 on Wednesday. The company has a 50-day moving average price of $26.13 and a 200-day moving average price of $28.03. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54. 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 firm has a market capitalization of $149.67 billion, a P/E ratio of 35.69, a PEG ratio of 0.63 and a beta of 0.64.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share 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 business had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same period last year, the firm earned ($0.17) earnings per share. The company’s quarterly revenue was up 31.2% on a year-over-year basis. Equities research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

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 given a $0.43 dividend. This is a boost from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a yield of 6.51%. Pfizer’s dividend payout ratio is presently 232.43%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Sanford C. Bernstein initiated coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. Truist Financial dropped their target price on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Bank of America reiterated a “neutral” rating and set a $29.00 target price on shares of Pfizer in a report on Tuesday, December 10th. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday, October 23rd. Finally, Citigroup started coverage on Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Insider Transactions at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of Pfizer stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average cost of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $282,400. The trade was a 11.11 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.06% of the company’s stock.

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.