Bruce G. Allen Investments LLC Sells 4,014 Shares of Pfizer Inc. (NYSE:PFE)

Bruce G. Allen Investments LLC lowered its position in Pfizer Inc. (NYSE:PFE) by 55.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,206 shares of the biopharmaceutical company’s stock after selling 4,014 shares during the period. Bruce G. Allen Investments LLC’s holdings in Pfizer were worth $85,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

PFE has been the topic of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. Citigroup began coverage on Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective on the stock. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Guggenheim dropped their price target on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Finally, Wolfe Research started coverage on shares of Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 target price on the stock. 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 issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Pfizer Trading Down 0.4 %

Pfizer stock traded down $0.11 during mid-day trading on Friday, reaching $26.75. 24,283,658 shares of the company traded hands, compared to its average volume of 33,808,176. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54. The firm’s 50 day moving average price is $26.21 and its 200 day moving average price is $28.05. The firm has a market capitalization of $151.59 billion, a price-to-earnings ratio of 36.15, a P/E/G ratio of 0.63 and a beta of 0.64.

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

Pfizer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be issued a dividend of $0.43 per share. This is a boost 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 dividend on an annualized basis and a dividend yield of 6.43%. Pfizer’s dividend payout ratio is presently 232.43%.

Insider Activity at Pfizer

In related news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by insiders.

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.