Pfizer Inc. (NYSE:PFE) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 11.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 91,559 shares of the biopharmaceutical company's stock after selling 12,244 shares during the period. Pinnacle Financial Partners Inc's holdings in Pfizer were worth $2,469,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PFE. Charles Schwab Investment Management Inc. increased its holdings in shares of Pfizer by 11.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company's stock valued at $3,766,366,000 after purchasing an additional 12,864,343 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Pfizer by 22.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company's stock worth $1,101,713,000 after acquiring an additional 6,977,587 shares during the period. International Assets Investment Management LLC acquired a new position in Pfizer during the third quarter worth about $146,481,000. Van ECK Associates Corp grew its holdings in Pfizer by 28.5% during the fourth quarter. Van ECK Associates Corp now owns 21,286,805 shares of the biopharmaceutical company's stock worth $564,739,000 after acquiring an additional 4,726,549 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Pfizer by 164.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company's stock worth $211,737,000 after acquiring an additional 4,546,809 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PFE. Truist Financial lowered their target price on Pfizer from $36.00 to $32.00 and set a "buy" rating on the stock in a report on Wednesday, December 18th. Evercore ISI raised Pfizer to a "strong-buy" rating in a report on Wednesday, October 30th. Citigroup lowered their target price on Pfizer from $30.00 to $29.00 and set a "neutral" rating on the stock in a report on Tuesday, January 28th. Guggenheim reiterated a "buy" rating and issued a $33.00 price target on shares of Pfizer in a research report on Monday, February 10th. Finally, UBS Group decreased their price target on Pfizer from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $31.92.

Pfizer Trading Up 1.6 %

Shares of NYSE PFE opened at $26.32 on Friday. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54. The firm has a market capitalization of $149.14 billion, a PE ratio of 18.66, a PEG ratio of 0.64 and a beta of 0.64. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $26.30 and a two-hundred day moving average price of $27.41.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.15. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm had revenue of $17.76 billion during the quarter, compared to analyst estimates of $17.26 billion. During the same period last year, the company posted $0.10 EPS. The business's quarterly revenue was up 24.7% compared to the same quarter last year. As a group, analysts predict that Pfizer Inc. will post 2.95 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. Shareholders of record on Friday, January 24th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, January 24th. This is a positive change from Pfizer's previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 6.54%. Pfizer's dividend payout ratio (DPR) is presently 121.99%.

Insider Activity

In other news, Director Ronald E. Blaylock purchased 19,457 shares of Pfizer stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the acquisition, the director now directly owns 27,707 shares in the company, valued at $710,684.55. This represents a 235.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.

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.

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