Elk River Wealth Management LLC Sells 2,200 Shares of Pfizer Inc. (NYSE:PFE)

Elk River Wealth Management LLC lowered its holdings in shares of Pfizer Inc. (NYSE:PFE) by 10.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 18,872 shares of the biopharmaceutical company’s stock after selling 2,200 shares during the period. Elk River Wealth Management LLC’s holdings in Pfizer were worth $501,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PFE. Swiss National Bank lifted its holdings in Pfizer by 0.6% during the 3rd quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock worth $486,762,000 after buying an additional 100,900 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Pfizer by 11.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after acquiring an additional 12,864,343 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Pfizer by 80.9% in the third quarter. Empowered Funds LLC now owns 508,256 shares of the biopharmaceutical company’s stock worth $14,709,000 after acquiring an additional 227,349 shares during the period. Addison Advisors LLC lifted its stake in shares of Pfizer by 394.2% in the third quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock worth $1,512,000 after acquiring an additional 41,668 shares during the period. Finally, KBC Group NV boosted its holdings in Pfizer by 26.0% in the third quarter. KBC Group NV now owns 3,105,433 shares of the biopharmaceutical company’s stock valued at $89,872,000 after acquiring an additional 639,985 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Insider Transactions at Pfizer

In other news, Director Ronald E. Blaylock bought 19,457 shares of Pfizer stock in a transaction dated Thursday, February 13th. The stock was purchased at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the purchase, the director now directly owns 27,707 shares in the company, valued at $710,684.55. The trade was a 235.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PFE. Wolfe Research initiated coverage on shares of Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target on the stock. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Truist Financial decreased their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Guggenheim reissued a “buy” rating and issued a $33.00 price objective on shares of Pfizer in a research note on Monday, February 10th. Finally, Citigroup decreased their target price on Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. One research 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 company currently has an average rating of “Moderate Buy” and an average price target of $31.92.

Pfizer Price Performance

Shares of NYSE:PFE opened at $25.87 on Thursday. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. The stock’s 50 day moving average is $26.28 and its 200-day moving average is $27.45. 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 $146.58 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 0.63 and a beta of 0.64.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.15. The firm had revenue of $17.76 billion for the quarter, compared to the consensus estimate of $17.26 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business’s revenue was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.10 earnings per share. Sell-side analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be issued 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 yield of 6.65%. The ex-dividend date is Friday, January 24th. Pfizer’s payout ratio is currently 121.99%.

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.