Pfizer Inc. (NYSE:PFE) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. cut its stake in shares of Pfizer Inc. (NYSE:PFE) by 37.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 52,547 shares of the biopharmaceutical company’s stock after selling 32,009 shares during the period. Bridges Investment Management Inc.’s holdings in Pfizer were worth $1,394,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Retirement Wealth Solutions LLC acquired a new position in shares of Pfizer during the fourth quarter worth $26,000. Gladius Capital Management LP increased its stake 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 buying 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 acquired a new position in Pfizer in the 4th quarter worth $34,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in Pfizer in the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Up 1.3 %

Shares of Pfizer stock opened at $26.43 on Monday. The stock has a market capitalization of $149.78 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 0.64 and a beta of 0.64. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The business’s 50 day simple moving average is $26.35 and its 200-day simple moving average is $27.32.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.15. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. During the same period last year, the company earned $0.10 earnings per share. The firm’s revenue for the quarter was up 24.7% on a year-over-year basis. Equities research analysts forecast 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. Shareholders of record on Friday, January 24th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 6.51%. 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. Pfizer’s payout ratio is presently 121.99%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Wolfe Research started coverage on Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 price objective on the stock. Citigroup reduced their target price on Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. UBS Group dropped their price target on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Bank of America reiterated a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.92.

Insiders Place Their Bets

In other Pfizer news, Director Ronald E. Blaylock acquired 19,457 shares of Pfizer stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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.