Corundum Group Inc. Trims Stake in Pfizer Inc. (NYSE:PFE)

Corundum Group Inc. cut its stake in shares of Pfizer Inc. (NYSE:PFE) by 67.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,802 shares of the biopharmaceutical company’s stock after selling 28,939 shares during the period. Corundum Group Inc.’s holdings in Pfizer were worth $366,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Thrivent Financial for Lutherans raised its position in shares of Pfizer by 2.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 739,236 shares of the biopharmaceutical company’s stock valued at $20,684,000 after purchasing an additional 20,140 shares during the period. Sompo Asset Management Co. Ltd. raised its holdings in Pfizer by 15.1% during the second quarter. Sompo Asset Management Co. Ltd. now owns 22,470 shares of the biopharmaceutical company’s stock valued at $629,000 after acquiring an additional 2,950 shares during the period. Schwerin Boyle Capital Management Inc. lifted its position in shares of Pfizer by 8.2% in the second quarter. Schwerin Boyle Capital Management Inc. now owns 775,125 shares of the biopharmaceutical company’s stock valued at $21,688,000 after acquiring an additional 58,850 shares in the last quarter. Kowal Investment Group LLC boosted its stake in shares of Pfizer by 10.3% in the second quarter. Kowal Investment Group LLC now owns 18,834 shares of the biopharmaceutical company’s stock worth $527,000 after acquiring an additional 1,757 shares during the period. Finally, ProShare Advisors LLC grew its position in shares of Pfizer by 7.3% during the second quarter. ProShare Advisors LLC now owns 845,638 shares of the biopharmaceutical company’s stock worth $23,661,000 after purchasing an additional 57,825 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Insider Activity at Pfizer

In related news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were acquired at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. The trade was a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PFE has been the subject of several recent analyst reports. Wolfe Research began coverage on Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target for the company. UBS Group dropped 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Finally, Bank of America reiterated a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Pfizer Stock Down 0.7 %

Shares of PFE opened at $26.30 on Monday. 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 business has a fifty day moving average of $26.08 and a 200 day moving average of $27.99. The company has a market cap of $149.06 billion, a PE ratio of 35.55, a P/E/G ratio of 0.64 and a beta of 0.64. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm 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 company earned ($0.17) EPS. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. On average, sell-side analysts expect that Pfizer Inc. will post 2.94 EPS for the current year.

Pfizer Increases Dividend

The firm also recently declared 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 a positive change from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.54%. The ex-dividend date is Friday, January 24th. Pfizer’s dividend payout ratio (DPR) is currently 227.03%.

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.