Forvis Mazars Wealth Advisors LLC Decreases Holdings in Pfizer Inc. (NYSE:PFE)

Forvis Mazars Wealth Advisors LLC cut its position in Pfizer Inc. (NYSE:PFE) by 20.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,493 shares of the biopharmaceutical company’s stock after selling 13,185 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Pfizer were worth $1,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Pfizer during the 4th quarter valued at approximately $26,000. Gladius Capital Management LP raised its position in Pfizer by 102.8% in the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 38,015 shares during the period. Sierra Ocean LLC acquired a new position in shares of Pfizer in the 4th quarter valued at $34,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Pfizer during the 3rd quarter worth $35,000. Finally, Joseph Group Capital Management increased its position in shares of Pfizer by 168.3% during the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 771 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Trading Up 1.6 %

PFE opened at $26.32 on Monday. The business’s 50-day simple moving average is $26.30 and its 200-day simple moving average is $27.40. The company has a market cap of $149.14 billion, a P/E ratio of 18.66, a PEG ratio of 0.64 and a beta of 0.64. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54. 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 data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.15. The business had revenue of $17.76 billion during the quarter, compared to the consensus estimate of $17.26 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The company’s revenue was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 EPS. As a group, equities research analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders 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 dividend yield of 6.54%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s payout ratio is 121.99%.

Analysts Set New Price Targets

Several brokerages have weighed in on PFE. Truist Financial lowered their target price on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Citigroup cut their price objective on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday, January 28th. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, Guggenheim reissued a “buy” rating and issued a $33.00 price objective on shares of Pfizer in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $31.92.

Insider Activity

In other news, Director Ronald E. Blaylock purchased 19,457 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were bought at an average price of $25.65 per share, with a total value of $499,072.05. Following the completion of the transaction, the director now directly owns 27,707 shares in the company, valued at approximately $710,684.55. This represents a 235.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

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.