Cumberland Partners Ltd Acquires Shares of 76,600 Pfizer Inc. (NYSE:PFE)

Cumberland Partners Ltd bought a new position in shares of Pfizer Inc. (NYSE:PFE) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 76,600 shares of the biopharmaceutical company’s stock, valued at approximately $2,032,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PFE. Retirement Wealth Solutions LLC purchased a new position in Pfizer in the fourth quarter valued at about $26,000. Gladius Capital Management LP raised its holdings in shares of 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 purchasing an additional 38,015 shares during the period. Teachers Insurance & Annuity Association of America purchased a new position in Pfizer in the third quarter valued at approximately $35,000. Joseph Group Capital Management grew 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 purchasing an additional 771 shares during the period. Finally, Sierra Ocean LLC purchased a new stake in Pfizer in the fourth quarter worth $34,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Performance

NYSE PFE opened at $25.87 on Thursday. The company has a market capitalization of $146.58 billion, a P/E ratio of 18.34, a P/E/G ratio of 0.63 and a beta of 0.64. 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 Inc. has a 52-week low of $24.48 and a 52-week high of $31.54. The company has a fifty day moving average of $26.28 and a 200-day moving average of $27.45.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.15. The firm had revenue of $17.76 billion during the quarter, compared to analyst estimates of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The company’s revenue was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 earnings per share. As a group, equities research analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, January 24th. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 6.65%. Pfizer’s dividend payout ratio (DPR) is 121.99%.

Insider Transactions at Pfizer

In related news, Director Ronald E. Blaylock acquired 19,457 shares of Pfizer 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 purchase, the director now owns 27,707 shares of the company’s stock, valued at $710,684.55. This represents a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

PFE has been the subject of several research reports. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Truist Financial cut their target price on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Wednesday, October 23rd. Bank of America reiterated a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a research note on Tuesday, December 10th. Finally, Citigroup dropped their target price on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Pfizer currently has a consensus rating of “Moderate Buy” and an average price target of $31.92.

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.