IMS Capital Management Has $3.02 Million Position in Pfizer Inc. (NYSE:PFE)

IMS Capital Management cut its position in Pfizer Inc. (NYSE:PFE) by 0.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 104,390 shares of the biopharmaceutical company’s stock after selling 548 shares during the quarter. Pfizer comprises about 1.4% of IMS Capital Management’s portfolio, making the stock its 15th largest holding. IMS Capital Management’s holdings in Pfizer were worth $3,021,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Gladius Capital Management LP lifted its stake in Pfizer by 102.8% in the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 38,015 shares in the last quarter. Quarry LP bought a new stake in Pfizer in the 2nd quarter valued at $31,000. Financial Connections Group Inc. acquired a new position in Pfizer in the 2nd quarter worth $34,000. Teachers Insurance & Annuity Association of America bought a new position in Pfizer during the 3rd quarter worth about $35,000. Finally, Joseph Group Capital Management raised its stake in shares of 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 purchasing an additional 771 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Ratings Changes

PFE has been the subject of several recent research reports. Guggenheim reduced their price objective on Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Citigroup assumed coverage on shares of Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 price target for the company. StockNews.com lowered shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Wolfe Research started coverage on shares of Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price for the company. Finally, Sanford C. Bernstein initiated coverage on shares of Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $32.15.

Insider Buying and Selling

In other Pfizer news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average price of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. This trade represents a 11.11 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is currently owned by insiders.

Pfizer Stock Performance

PFE opened at $26.42 on Wednesday. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 12-month low of $24.48 and a 12-month high of $31.54. The business has a 50 day moving average of $27.03 and a 200-day moving average of $28.24. The stock has a market cap of $149.72 billion, a price-to-earnings ratio of 35.70, a PEG ratio of 0.63 and a beta of 0.65.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. Pfizer’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.17) EPS. On average, equities research analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be given a $0.43 dividend. This is an increase 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 annualized dividend and a dividend yield of 6.51%. Pfizer’s dividend payout ratio is presently 227.03%.

Pfizer Company 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.