1ST Source Bank Decreases Stock Position in Pfizer Inc. (NYSE:PFE)

1ST Source Bank cut its stake in shares of Pfizer Inc. (NYSE:PFE) by 12.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,639 shares of the biopharmaceutical company’s stock after selling 11,132 shares during the quarter. 1ST Source Bank’s holdings in Pfizer were worth $2,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. MFA Wealth Advisors LLC bought a new stake in shares of Pfizer in the 2nd quarter worth approximately $29,000. Gladius Capital Management LP grew its holdings in shares of Pfizer by 102.8% during the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 38,015 shares during the period. Quarry LP bought a new stake in shares of Pfizer during the second quarter valued at approximately $31,000. Financial Connections Group Inc. bought a new position in Pfizer in the second quarter worth $34,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in Pfizer during the third quarter valued at $35,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PFE. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Bank of America reaffirmed a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a research report on Tuesday. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Wolfe Research began coverage on Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 price target for the company. Finally, Sanford C. Bernstein began coverage on Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pfizer presently has a consensus rating of “Moderate Buy” and an average target price of $32.43.

Insider Transactions at Pfizer

In related news, Director Scott Gottlieb acquired 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. This represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Pfizer Stock Performance

NYSE:PFE traded up $0.07 on Friday, hitting $25.44. The stock had a trading volume of 6,839,970 shares, compared to its average volume of 38,396,117. The stock has a market cap of $144.17 billion, a price-to-earnings ratio of 34.28, a price-to-earnings-growth ratio of 0.63 and a beta of 0.65. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The business’s 50-day simple moving average is $27.23 and its two-hundred day simple moving average is $28.29. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same quarter last year, the company earned ($0.17) earnings per share. The business’s revenue for the quarter was up 31.2% compared to the same quarter last year. As a group, research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 6.76%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio (DPR) is 227.03%.

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.