Key Client Fiduciary Advisors LLC Sells 1,709 Shares of Pfizer Inc. (NYSE:PFE)

Key Client Fiduciary Advisors LLC lowered its position in shares of Pfizer Inc. (NYSE:PFE) by 6.0% in the 4th quarter, HoldingsChannel reports. The firm owned 27,001 shares of the biopharmaceutical company’s stock after selling 1,709 shares during the quarter. Key Client Fiduciary Advisors LLC’s holdings in Pfizer were worth $716,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its stake in Pfizer by 1.2% in the third quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock worth $8,405,930,000 after buying an additional 3,405,539 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Pfizer by 11.0% in the 3rd 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 purchasing an additional 12,864,343 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Pfizer by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock valued at $3,392,342,000 after purchasing an additional 1,855,419 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Pfizer by 22.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock worth $1,101,713,000 after purchasing an additional 6,977,587 shares during the period. Finally, Swiss National Bank lifted its stake in Pfizer by 0.6% in the third quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock worth $486,762,000 after purchasing an additional 100,900 shares during the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PFE shares. Truist Financial decreased their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. Evercore ISI raised Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Citigroup assumed coverage on shares of Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price on the stock. Finally, Wolfe Research began 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $32.00.

Insiders Place Their Bets

In related news, Director Scott Gottlieb purchased 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

Pfizer Stock Up 1.7 %

PFE stock opened at $26.46 on Friday. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The company has a market capitalization of $149.94 billion, a price-to-earnings ratio of 35.75, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64. The business’s 50 day moving average price is $26.07 and its two-hundred day moving average price is $27.96. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.17) earnings per share. As a group, analysts forecast that Pfizer Inc. will post 2.94 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 annualized dividend and a yield of 6.50%. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s payout ratio is presently 227.03%.

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.