Pfizer Inc. (NYSE:PFE) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. reduced its stake in Pfizer Inc. (NYSE:PFE) by 0.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 269,461 shares of the biopharmaceutical company’s stock after selling 819 shares during the period. First Citizens Bank & Trust Co.’s holdings in Pfizer were worth $7,798,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. raised its holdings in shares of Pfizer by 6.1% in the 3rd quarter. Blue Trust Inc. now owns 53,559 shares of the biopharmaceutical company’s stock worth $1,499,000 after purchasing an additional 3,102 shares in the last quarter. Moss Adams Wealth Advisors LLC grew its holdings in shares of Pfizer by 5.4% in the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 22,111 shares of the biopharmaceutical company’s stock worth $640,000 after acquiring an additional 1,141 shares during the last quarter. KMG Fiduciary Partners LLC acquired a new stake in shares of Pfizer during the third quarter worth $2,891,000. Stratos Investment Management LLC lifted its holdings in shares of Pfizer by 15.6% during the third quarter. Stratos Investment Management LLC now owns 14,928 shares of the biopharmaceutical company’s stock valued at $432,000 after purchasing an additional 2,013 shares during the last quarter. Finally, Stratos Wealth Advisors LLC boosted its position in shares of Pfizer by 0.6% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 111,559 shares of the biopharmaceutical company’s stock valued at $3,229,000 after purchasing an additional 621 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Performance

Shares of NYSE PFE opened at $29.23 on Friday. Pfizer Inc. has a one year low of $25.20 and a one year high of $31.54. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The business has a fifty day simple moving average of $29.07 and a 200 day simple moving average of $28.44. The firm has a market capitalization of $165.63 billion, a price-to-earnings ratio of -487.17, a PEG ratio of 1.02 and a beta of 0.67.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The firm had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 earnings per share. Sell-side analysts expect that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently -2,800.00%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PFE. Barclays lifted their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. UBS Group increased their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research report on Thursday, October 3rd. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.91.

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.