Moss Adams Wealth Advisors LLC Sells 585 Shares of Pfizer Inc. (NYSE:PFE)

Moss Adams Wealth Advisors LLC cut its holdings in Pfizer Inc. (NYSE:PFE) by 2.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 21,526 shares of the biopharmaceutical company’s stock after selling 585 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Pfizer were worth $571,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Pfizer by 1.2% in the 3rd quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock valued at $8,405,930,000 after acquiring an additional 3,405,539 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Pfizer by 11.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after purchasing an additional 12,864,343 shares during the period. Geode Capital Management LLC lifted its position in Pfizer by 1.6% in the third quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock valued at $3,392,342,000 after purchasing an additional 1,855,419 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Pfizer by 22.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock valued at $1,101,713,000 after purchasing an additional 6,977,587 shares during the period. Finally, Swiss National Bank grew its holdings in shares of Pfizer by 0.6% in the third quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock worth $486,762,000 after purchasing an additional 100,900 shares during the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction on 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 acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. This represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.06% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PFE shares. Citigroup assumed coverage on shares of Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target for the company. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. UBS Group cut their target price on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Guggenheim lowered their price target on Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Finally, Truist Financial cut their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Pfizer Price Performance

Shares of PFE opened at $26.30 on Friday. The firm’s 50-day simple moving average is $26.08 and its two-hundred day simple moving average is $27.99. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The stock has a market cap of $149.06 billion, a PE ratio of 35.55, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE) last posted 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. The company had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.17) EPS. Analysts anticipate that Pfizer Inc. will post 2.94 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The company 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 $0.43 dividend. This is a boost from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a yield of 6.54%. Pfizer’s payout ratio is presently 232.43%.

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.