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

Busey Bank cut its stake in Pfizer Inc. (NYSE:PFE) by 4.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 620,170 shares of the biopharmaceutical company’s stock after selling 31,432 shares during the quarter. Busey Bank’s holdings in Pfizer were worth $17,948,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PFE. Olistico Wealth LLC purchased a new position in shares of Pfizer during the second quarter worth $25,000. MFA Wealth Advisors LLC purchased a new position in Pfizer during the 2nd quarter valued at about $29,000. Quarry LP acquired a new position in shares of Pfizer in the second quarter valued at approximately $31,000. Trivant Custom Portfolio Group LLC grew its stake in shares of Pfizer by 100.0% in the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 600 shares in the last quarter. Finally, Financial Connections Group Inc. purchased a new stake in Pfizer during the 2nd quarter worth about $34,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of NYSE:PFE opened at $28.65 on Friday. The stock has a fifty day moving average of $29.07 and a 200-day moving average of $28.48. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The company has a market capitalization of $162.35 billion, a PE ratio of -62.28, a price-to-earnings-growth ratio of 1.01 and a beta of 0.67. Pfizer Inc. has a one year low of $25.20 and a one year high of $31.54.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same quarter last year, the firm earned $0.67 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities analysts anticipate that Pfizer Inc. will post 2.67 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.86%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is -365.21%.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of recent analyst reports. Barclays increased their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Wednesday. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Sanford C. Bernstein initiated coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price on the stock. Finally, Citigroup initiated coverage on Pfizer in a report on Friday. They issued a “neutral” rating and a $30.00 target price for the company. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer 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.