Western Wealth Management LLC Sells 34,748 Shares of Pfizer Inc. (NYSE:PFE)

Western Wealth Management LLC cut its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 62.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,219 shares of the biopharmaceutical company's stock after selling 34,748 shares during the quarter. Western Wealth Management LLC's holdings in Pfizer were worth $563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PFE. Norges Bank bought a new position in shares of Pfizer in the 4th quarter worth approximately $2,328,986,000. Charles Schwab Investment Management Inc. grew its stake in Pfizer by 19.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company's stock worth $4,124,330,000 after purchasing an additional 25,315,159 shares during the period. Starboard Value LP bought a new position in Pfizer in the fourth quarter worth $407,730,000. Raymond James Financial Inc. purchased a new position in Pfizer during the fourth quarter valued at $274,694,000. Finally, Massachusetts Financial Services Co. MA lifted its position in Pfizer by 7.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock valued at $2,029,604,000 after buying an additional 5,350,381 shares during the period. Hedge funds and other institutional investors own 68.36% of the company's stock.

Pfizer Stock Performance

PFE stock traded up $0.29 on Friday, hitting $23.33. The company had a trading volume of 35,311,117 shares, compared to its average volume of 41,100,141. 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 $20.92 and a 12-month high of $31.54. The stock has a market cap of $132.66 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 0.64 and a beta of 0.58. The stock's 50-day simple moving average is $23.38 and its 200 day simple moving average is $25.16.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.25. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. The company's revenue for the quarter was down 7.8% on a year-over-year basis. During the same period last year, the business posted $0.82 EPS. As a group, equities research analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, May 9th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.37%. Pfizer's dividend payout ratio is currently 124.64%.

Wall Street Analyst Weigh In

PFE has been the subject of several research reports. The Goldman Sachs Group reiterated a "neutral" rating and issued a $25.00 price target (down from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. Citigroup restated a "neutral" rating on shares of Pfizer in a report on Thursday, March 27th. UBS Group upped their target price on shares of Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Cantor Fitzgerald began coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price target for the company. Finally, Guggenheim reaffirmed a "buy" rating on shares of Pfizer in a research report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Pfizer has an average rating of "Moderate Buy" and an average target price of $29.17.

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.