Highline Wealth Partners LLC Reduces Position in Pfizer Inc. (NYSE:PFE)

Highline Wealth Partners LLC reduced its stake in shares of Pfizer Inc. (NYSE:PFE) by 97.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,147 shares of the biopharmaceutical company’s stock after selling 39,454 shares during the period. Highline Wealth Partners LLC’s holdings in Pfizer were worth $30,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PFE. Gladius Capital Management LP grew its holdings in Pfizer by 102.8% in the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 38,015 shares in the last quarter. Quarry LP acquired a new stake in Pfizer during the second quarter worth about $31,000. Teachers Insurance & Annuity Association of America purchased a new position in Pfizer during the third quarter worth about $35,000. Joseph Group Capital Management boosted its holdings in Pfizer by 168.3% in the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 771 shares during the last quarter. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Pfizer in the 2nd quarter valued at approximately $38,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PFE shares. UBS Group decreased their price objective on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday. Guggenheim lowered their price target on Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Citigroup began coverage on shares of Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective on the stock. Sanford C. Bernstein initiated coverage on shares of Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. Finally, Bank of America restated a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and an average target price of $32.00.

Insider Buying and Selling

In other news, Director Scott Gottlieb acquired 1,000 shares of Pfizer stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, 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 available through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Pfizer Stock Performance

Shares of PFE traded up $0.09 during mid-day trading on Friday, hitting $26.95. 17,334,862 shares of the company’s stock were exchanged, compared to its average volume of 32,871,391. The firm has a market capitalization of $152.73 billion, a P/E ratio of 36.42, a P/E/G ratio of 0.63 and a beta of 0.64. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The business’s 50 day moving average is $26.21 and its two-hundred day moving average is $28.05. 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 (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 firm had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same period last year, the company earned ($0.17) earnings per share. On average, equities analysts expect 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 $0.43 dividend. This is a boost from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 6.38%. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s dividend payout ratio (DPR) is currently 232.43%.

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.