Redmond Asset Management LLC Invests $480,000 in Pfizer Inc. (NYSE:PFE)

Redmond Asset Management LLC acquired a new position in shares of Pfizer Inc. (NYSE:PFE) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 18,083 shares of the biopharmaceutical company’s stock, valued at approximately $480,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new stake in Pfizer in the 4th quarter valued at $26,000. Gladius Capital Management LP grew its stake in Pfizer by 102.8% in the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 38,015 shares during the period. Teachers Insurance & Annuity Association of America acquired a new stake in Pfizer in the 3rd quarter valued at $35,000. Joseph Group Capital Management grew its stake in Pfizer by 168.3% in the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 771 shares during the period. Finally, Sierra Ocean LLC acquired a new stake in Pfizer in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PFE. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Bank of America restated a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a report on Tuesday, December 10th. Citigroup decreased their price objective on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Wolfe Research began coverage on Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective on the stock. Finally, Guggenheim restated a “buy” rating and issued a $33.00 price objective on shares of Pfizer in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.92.

Insider Activity at Pfizer

In related news, Director Ronald E. Blaylock acquired 19,457 shares of Pfizer stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the acquisition, the director now owns 27,707 shares in the company, valued at approximately $710,684.55. This represents a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by insiders.

Pfizer Stock Up 1.6 %

NYSE PFE opened at $26.32 on Friday. 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 business’s fifty day simple moving average is $26.30 and its 200-day simple moving average is $27.41. The firm has a market cap of $149.14 billion, a PE ratio of 18.66, a P/E/G ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.48 by $0.15. The business had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company’s quarterly revenue was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 EPS. As a group, equities analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be issued a $0.43 dividend. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 6.54%. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s payout ratio is 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.