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

Busey Bank lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 4.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 hedge funds and other institutional investors have also recently modified their holdings of the stock. Marshall Wace LLP raised its holdings in shares of Pfizer by 279.3% in the second 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 during the last quarter. Swedbank AB purchased a new position in Pfizer in the 1st quarter worth $172,902,000. International Assets Investment Management LLC acquired a new stake in Pfizer during the 3rd quarter worth about $146,481,000. Pzena Investment Management LLC grew its stake 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 valued at $212,855,000 after purchasing an additional 4,947,000 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Pfizer by 21.8% in the first 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 during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. UBS Group upped their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a report on Wednesday. Sanford C. Bernstein began coverage on shares of Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price for the company. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Citigroup initiated coverage on Pfizer in a research note on Friday. They set a “neutral” rating and a $30.00 price objective for the company. Eight 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 stock. Based on data from MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and a consensus target price of $33.58.

Pfizer Stock Down 0.7 %

Shares of PFE opened at $28.65 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The firm has a market cap of $162.35 billion, a P/E ratio of -62.28, a PEG ratio of 1.01 and a beta of 0.67. The stock’s 50 day moving average is $29.07 and its two-hundred day moving average is $28.48. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $31.54.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 earnings per share. Analysts predict that Pfizer Inc. will post 2.67 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 5.86%. Pfizer’s dividend payout ratio (DPR) is currently -365.21%.

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.