Thrive Wealth Management LLC Sells 14,354 Shares of Pfizer Inc. (NYSE:PFE)

Thrive Wealth Management LLC reduced its stake in Pfizer Inc. (NYSE:PFE) by 26.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,271 shares of the biopharmaceutical company’s stock after selling 14,354 shares during the quarter. Thrive Wealth Management LLC’s holdings in Pfizer were worth $1,068,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Retirement Wealth Solutions LLC acquired a new position in shares of Pfizer during the fourth quarter worth about $26,000. Gladius Capital Management LP lifted its stake 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 acquiring an additional 38,015 shares in the last quarter. Quarry LP acquired a new position in Pfizer during the 2nd quarter worth approximately $31,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Pfizer during the 3rd quarter worth approximately $35,000. Finally, Joseph Group Capital Management raised its holdings in shares of Pfizer by 168.3% in the third 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. 68.36% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction on 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 acquisition, the director now directly owns 10,000 shares in the company, valued at $282,400. This represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PFE. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Guggenheim dropped their target price on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. UBS Group cut their price objective on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Citigroup began coverage on shares of Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Pfizer Stock Performance

Shares of NYSE PFE opened at $26.30 on Monday. 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 firm has a market cap of $149.06 billion, a price-to-earnings ratio of 35.55, a P/E/G ratio of 0.64 and a beta of 0.64. The stock’s fifty day moving average price is $26.08 and its two-hundred day moving average price is $27.99. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54.

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

Pfizer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a yield of 6.54%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is currently 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.