Narwhal Capital Management Sells 12,071 Shares of Pfizer Inc. (NYSE:PFE)

Narwhal Capital Management cut its stake in shares of Pfizer Inc. (NYSE:PFE) by 58.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,474 shares of the biopharmaceutical company’s stock after selling 12,071 shares during the quarter. Narwhal Capital Management’s holdings in Pfizer were worth $225,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PFE. Retirement Wealth Solutions LLC bought a new position in shares of Pfizer in the fourth quarter worth approximately $26,000. Gladius Capital Management LP boosted 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 worth $30,000 after buying an additional 38,015 shares during the period. Quarry LP purchased a new stake in Pfizer in the 2nd quarter worth $31,000. Teachers Insurance & Annuity Association of America purchased a new stake in Pfizer in the 3rd quarter worth $35,000. Finally, Joseph Group Capital Management raised its holdings in Pfizer by 168.3% during the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 771 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PFE has been the subject of several research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Wednesday, October 23rd. Citigroup started coverage on shares of Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective for the company. Bank of America reissued a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a report on Tuesday, December 10th. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, Sanford C. Bernstein began coverage on shares of Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective for the company. 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 stock. Based on data from MarketBeat.com, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Pfizer Trading Down 1.3 %

Shares of PFE stock opened at $26.10 on Monday. The company has a market cap of $147.89 billion, a PE ratio of 35.27, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64. 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 stock’s 50 day simple moving average is $26.11 and its two-hundred day simple moving average is $27.94. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54.

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

Pfizer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 6.59%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. Pfizer’s dividend payout ratio is presently 227.03%.

Insider Buying and Selling

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction dated 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 completion of the acquisition, the director now owns 10,000 shares in the company, valued at $282,400. This represents a 11.11 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Pfizer Company 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.