OLD National Bancorp IN Cuts Stock Holdings in Pfizer Inc. (NYSE:PFE)

OLD National Bancorp IN decreased its position in Pfizer Inc. (NYSE:PFE - Free Report) by 13.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 299,392 shares of the biopharmaceutical company's stock after selling 47,516 shares during the period. OLD National Bancorp IN's holdings in Pfizer were worth $7,943,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Westhampton Capital LLC increased its stake in Pfizer by 1.2% in the 4th quarter. Westhampton Capital LLC now owns 42,178 shares of the biopharmaceutical company's stock valued at $1,119,000 after buying an additional 500 shares during the last quarter. Synergy Asset Management LLC purchased a new stake in shares of Pfizer during the 4th quarter worth approximately $63,000. Drystone LLC purchased a new stake in shares of Pfizer during the 4th quarter worth approximately $3,868,000. Gries Financial LLC increased its stake in shares of Pfizer by 6.8% during the 4th quarter. Gries Financial LLC now owns 29,246 shares of the biopharmaceutical company's stock worth $776,000 after purchasing an additional 1,853 shares during the last quarter. Finally, Hanson & Doremus Investment Management increased its stake in shares of Pfizer by 1.0% during the 4th quarter. Hanson & Doremus Investment Management now owns 139,121 shares of the biopharmaceutical company's stock worth $3,691,000 after purchasing an additional 1,408 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company's stock.

Wall Street Analyst Weigh In

PFE has been the subject of several research analyst reports. Guggenheim decreased their price target on shares of Pfizer from $35.00 to $33.00 and set a "buy" rating for the company in a research note on Wednesday, December 11th. Sanford C. Bernstein initiated coverage on shares of Pfizer in a research report on Thursday, October 17th. They set a "market perform" rating and a $32.00 price objective on the stock. Evercore ISI upgraded shares of Pfizer to a "strong-buy" rating in a research report on Wednesday, October 30th. Truist Financial decreased their target price on shares of Pfizer from $36.00 to $32.00 and set a "buy" rating on the stock in a research report on Wednesday, December 18th. Finally, Bank of America reiterated a "neutral" rating and issued a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.92.

Pfizer Trading Up 1.0 %

Shares of PFE traded up $0.27 during trading hours on Thursday, reaching $26.89. 32,270,209 shares of the company traded hands, compared to its average volume of 35,838,855. The company's fifty day moving average price is $26.22 and its two-hundred day moving average price is $27.90. The company has a market capitalization of $152.41 billion, a price-to-earnings ratio of 36.34, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54.

Pfizer (NYSE:PFE - Get Free Report) 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 net margin of 7.07% and a return on equity of 16.28%. The business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. Pfizer's quarterly revenue was up 31.2% on a year-over-year basis. Equities research analysts predict that Pfizer Inc. will post 2.94 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, January 24th. This represents a $1.72 annualized dividend and a yield of 6.40%. This is a positive change from Pfizer's previous quarterly dividend of $0.42. Pfizer's payout ratio is presently 227.03%.

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.