Beacon Harbor Wealth Advisors Inc. Has $2.51 Million Position in Pfizer Inc. (NYSE:PFE)

Beacon Harbor Wealth Advisors Inc. reduced its stake in Pfizer Inc. (NYSE:PFE) by 60.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,465 shares of the biopharmaceutical company’s stock after selling 141,745 shares during the period. Beacon Harbor Wealth Advisors Inc.’s holdings in Pfizer were worth $2,506,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Inceptionr LLC acquired a new stake in Pfizer during the 4th quarter worth approximately $229,000. Raymond James Financial Inc. acquired a new stake in Pfizer during the 4th quarter worth approximately $274,694,000. Promus Capital LLC acquired a new stake in Pfizer during the 4th quarter worth approximately $66,000. Vision Financial Markets LLC acquired a new stake in Pfizer during the 4th quarter worth approximately $283,000. Finally, Granite FO LLC boosted its position in Pfizer by 8.6% during the 4th quarter. Granite FO LLC now owns 24,242 shares of the biopharmaceutical company’s stock worth $643,000 after buying an additional 1,915 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pfizer

In other news, Director Ronald E. Blaylock purchased 19,457 shares of the stock in a transaction dated Thursday, February 13th. The shares were purchased at an average cost 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 $710,684.55. This represents a 235.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on PFE shares. UBS Group cut their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Citigroup dropped 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. Truist Financial dropped 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. Guggenheim restated a “buy” rating and issued a $33.00 price target on shares of Pfizer in a research report on Monday, February 10th. Finally, Wolfe Research began coverage on shares of Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target on the stock. One 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.92.

Pfizer Stock Performance

Shares of PFE stock opened at $25.93 on Thursday. The firm has a market capitalization of $146.93 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64. The firm has a fifty day simple moving average of $26.31 and a two-hundred day simple moving average of $27.27. 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 12 month low of $24.48 and a 12 month high of $31.54.

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

Pfizer Increases Dividend

The company 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 represents a $1.72 dividend on an annualized basis and a dividend yield of 6.63%. 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 121.99%.

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.