Pfizer Inc. (NYSE:PFE) Shares Sold by CNB Bank

CNB Bank lowered its position in shares of Pfizer Inc. (NYSE:PFE) by 3.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,245 shares of the biopharmaceutical company’s stock after selling 1,714 shares during the period. CNB Bank’s holdings in Pfizer were worth $1,367,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Marshall Wace LLP lifted its holdings in Pfizer by 279.3% in the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock worth $150,481,000 after buying an additional 8,378,173 shares in the last quarter. Swedbank AB acquired a new stake in Pfizer during the 1st quarter valued at approximately $172,902,000. Pzena Investment Management LLC increased its holdings in Pfizer by 181.6% during the 1st quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock worth $212,855,000 after purchasing an additional 4,947,000 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Pfizer by 21.8% in the 1st quarter. Van ECK Associates Corp now owns 15,813,328 shares of the biopharmaceutical company’s stock valued at $438,820,000 after purchasing an additional 2,829,178 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of Pfizer by 24,961.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,497,886 shares of the biopharmaceutical company’s stock valued at $69,891,000 after buying an additional 2,487,919 shares during the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Price Performance

NYSE PFE opened at $29.22 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $165.58 billion, a PE ratio of -487.00, a price-to-earnings-growth ratio of 1.02 and a beta of 0.67. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $31.54. The company has a 50 day moving average price of $29.07 and a two-hundred day moving average price of $28.44.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.14. The business had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. Pfizer’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 EPS. As a group, equities analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Sanford C. Bernstein started coverage on shares of Pfizer in a research report on Thursday. They set a “market perform” rating and a $32.00 price target on the stock. UBS Group upped their price objective on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Thursday, October 3rd. Finally, Barclays upped their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.91.

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.