Pfizer Inc. (NYSE:PFE) Shares Sold by Chase Investment Counsel Corp

Chase Investment Counsel Corp trimmed its position in shares of Pfizer Inc. (NYSE:PFE) by 93.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,486 shares of the biopharmaceutical company’s stock after selling 171,298 shares during the period. Chase Investment Counsel Corp’s holdings in Pfizer were worth $304,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Pfizer during the 4th quarter worth $26,000. Gladius Capital Management LP boosted its position in Pfizer by 102.8% during the 3rd 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 period. Noble Wealth Management PBC purchased a new stake in Pfizer during the 4th quarter worth $31,000. Sierra Ocean LLC purchased a new stake in Pfizer during the 4th quarter worth $34,000. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in Pfizer during the 3rd quarter worth $35,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Pfizer news, Director Ronald E. Blaylock purchased 19,457 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were bought at an average price of $25.65 per share, with a total value of $499,072.05. Following the completion of the acquisition, the director now owns 27,707 shares in the company, valued at approximately $710,684.55. This represents a 235.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

PFE has been the subject of a number of research reports. Wolfe Research initiated coverage on shares of Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 price target for the company. StockNews.com cut shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Bank of America reaffirmed a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. Citigroup reduced their price target on shares of Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Finally, Truist Financial reduced their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $31.92.

Pfizer Stock Performance

PFE opened at $26.43 on Friday. The business’s 50 day moving average is $26.35 and its 200-day moving average is $27.34. The stock has a market cap of $149.78 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.15. The company had revenue of $17.76 billion for the quarter, compared to analysts’ expectations of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 earnings per share. On average, analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The firm 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 represents a $1.72 dividend on an annualized basis and a dividend yield of 6.51%. The ex-dividend date of this dividend is Friday, January 24th. This is a boost from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s payout ratio is 121.99%.

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.