Abbrea Capital LLC Sells 14,250 Shares of Pfizer Inc. (NYSE:PFE)

Abbrea Capital LLC trimmed its position in shares of Pfizer Inc. (NYSE:PFE) by 16.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 74,819 shares of the biopharmaceutical company’s stock after selling 14,250 shares during the quarter. Abbrea Capital LLC’s holdings in Pfizer were worth $2,154,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PFE. Wedge Capital Management L L P NC boosted its stake in shares of Pfizer by 10.6% during the third quarter. Wedge Capital Management L L P NC now owns 10,865 shares of the biopharmaceutical company’s stock valued at $360,000 after purchasing an additional 1,044 shares in the last quarter. Essex LLC boosted its stake in shares of Pfizer by 16.4% during the third quarter. Essex LLC now owns 66,014 shares of the biopharmaceutical company’s stock valued at $2,190,000 after purchasing an additional 9,288 shares in the last quarter. Capital Investment Advisors LLC lifted its stake in shares of Pfizer by 5.9% in the third quarter. Capital Investment Advisors LLC now owns 718,558 shares of the biopharmaceutical company’s stock worth $23,835,000 after acquiring an additional 40,233 shares during the period. Guidance Capital Inc. lifted its stake in shares of Pfizer by 9.9% in the third quarter. Guidance Capital Inc. now owns 15,080 shares of the biopharmaceutical company’s stock worth $511,000 after acquiring an additional 1,358 shares during the period. Finally, Onyx Bridge Wealth Group LLC lifted its stake in shares of Pfizer by 12.1% in the third quarter. Onyx Bridge Wealth Group LLC now owns 17,201 shares of the biopharmaceutical company’s stock worth $571,000 after acquiring an additional 1,852 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Stock Up 0.5 %

Shares of NYSE:PFE traded up $0.12 during trading on Friday, reaching $25.38. 46,464,132 shares of the stock were exchanged, compared to its average volume of 42,010,875. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.91 and a quick ratio of 0.69. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $40.37. The stock has a fifty day moving average of $27.01 and a two-hundred day moving average of $28.48. The firm has a market cap of $143.72 billion, a price-to-earnings ratio of 70.39, a price-to-earnings-growth ratio of 1.18 and a beta of 0.61.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.29. The business had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.37 billion. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. Pfizer’s quarterly revenue was down 41.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 EPS. Research analysts anticipate that Pfizer Inc. will post 2.24 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.42 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.68 annualized dividend and a dividend yield of 6.62%. Pfizer’s payout ratio is 466.67%.

Wall Street Analyst Weigh In

PFE has been the topic of a number of recent analyst reports. Guggenheim initiated coverage on Pfizer in a research note on Friday, February 23rd. They issued a “buy” rating and a $36.00 price objective on the stock. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Monday, April 15th. Finally, TD Cowen lowered Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price target on the stock. in a research note on Thursday, January 4th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $36.33.

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.