SeaCrest Wealth Management LLC Sells 6,705 Shares of Pfizer Inc. (NYSE:PFE)

SeaCrest Wealth Management LLC cut its position in Pfizer Inc. (NYSE:PFE) by 9.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,590 shares of the biopharmaceutical company’s stock after selling 6,705 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Pfizer were worth $1,740,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PFE. Gladius Capital Management LP lifted its stake in Pfizer by 102.8% during the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 38,015 shares during the last quarter. Quarry LP acquired a new position in shares of Pfizer during the 2nd quarter worth $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in Pfizer in the third quarter valued at about $35,000. Joseph Group Capital Management boosted its stake in Pfizer by 168.3% in the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 771 shares in the last quarter. Finally, Kennebec Savings Bank bought a new position in Pfizer in the third quarter valued at about $50,000. Institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PFE. Bank of America restated a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a research note on Tuesday, December 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Wednesday, October 23rd. Wolfe Research assumed coverage on shares of Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 price target for the company. Sanford C. Bernstein began coverage on Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target for the company. Finally, Truist Financial reduced their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.00.

Pfizer Price Performance

Shares of PFE opened at $26.41 on Wednesday. The business has a 50-day moving average of $26.13 and a 200-day moving average of $28.03. 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 company has a market capitalization of $149.67 billion, a price-to-earnings ratio of 35.69, a price-to-earnings-growth ratio of 0.63 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 released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. During the same quarter last year, the business earned ($0.17) EPS. The company’s revenue was up 31.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be given a dividend of $0.43 per share. This is a positive change 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 232.43%.

Insider Buying and Selling

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. This represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by insiders.

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.