Cypress Capital Group Sells 17,217 Shares of Pfizer Inc. (NYSE:PFE)

Cypress Capital Group decreased its position in Pfizer Inc. (NYSE:PFE) by 14.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 104,097 shares of the biopharmaceutical company’s stock after selling 17,217 shares during the period. Cypress Capital Group’s holdings in Pfizer were worth $2,762,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp grew its holdings in shares of Pfizer by 1.2% in the third quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock worth $8,405,930,000 after purchasing an additional 3,405,539 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Pfizer by 19.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock valued at $4,124,330,000 after acquiring an additional 25,315,159 shares in the last quarter. Geode Capital Management LLC boosted its holdings 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 acquiring an additional 1,855,419 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Pfizer by 22.4% in 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 acquiring an additional 6,977,587 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Pfizer by 28.5% in the fourth quarter. Van ECK Associates Corp now owns 21,286,805 shares of the biopharmaceutical company’s stock valued at $564,739,000 after acquiring an additional 4,726,549 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Insiders Place Their Bets

In other Pfizer news, Director Ronald E. Blaylock bought 19,457 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was acquired at an average price of $25.65 per share, with a total value of $499,072.05. Following the transaction, the director now owns 27,707 shares in the company, valued at $710,684.55. This represents a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.06% of the stock is owned by insiders.

Pfizer Price Performance

PFE opened at $25.72 on Wednesday. The stock has a 50-day moving average price of $26.32 and a 200-day moving average price of $27.28. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The firm has a market cap of $145.73 billion, a PE ratio of 18.24, a P/E/G ratio of 0.64 and a beta of 0.64. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.15. The firm had revenue of $17.76 billion during 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%. Pfizer’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. Sell-side analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The firm also recently announced 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 positive change 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 6.69%. Pfizer’s payout ratio is 121.99%.

Analyst Upgrades and Downgrades

PFE has been the topic of several recent analyst reports. UBS Group cut their price target on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Citigroup cut their price target on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Guggenheim reiterated a “buy” rating and issued a $33.00 price target on shares of Pfizer in a report on Monday, February 10th. Truist Financial cut their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Finally, Bank of America restated a “neutral” rating and set a $29.00 target price on shares of Pfizer in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $31.92.

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.