OLD National Bancorp IN Decreases Stock Position in Pfizer Inc. (NYSE:PFE)

OLD National Bancorp IN lowered its stake in Pfizer Inc. (NYSE:PFE) by 13.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 SEC filing.

Several other large investors have also recently modified their holdings of PFE. Charles Schwab Investment Management Inc. increased its holdings in shares of Pfizer by 11.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after buying an additional 12,864,343 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Pfizer by 22.4% during the 3rd 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 valued at $1,101,713,000 after purchasing an additional 6,977,587 shares during the period. International Assets Investment Management LLC purchased a new position in Pfizer during the 3rd quarter valued at about $146,481,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Pfizer by 164.2% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company’s stock valued at $211,737,000 after purchasing an additional 4,546,809 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in Pfizer by 226.7% during the 3rd quarter. Fisher Asset Management LLC now owns 6,209,907 shares of the biopharmaceutical company’s stock valued at $179,715,000 after purchasing an additional 4,309,076 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PFE shares. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Wolfe Research started coverage on Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 price target on the stock. Citigroup reduced their price target on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Bank of America reiterated a “neutral” rating and set a $29.00 target price on shares of Pfizer in a report on Tuesday, December 10th. One research 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.92.

Pfizer Stock Performance

Shares of PFE opened at $26.65 on Thursday. 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 moving average price is $26.18 and its 200-day moving average price is $27.91. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54. The stock has a market cap of $151.00 billion, a P/E ratio of 36.01, a P/E/G ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $14.92 billion. During the same period in the previous year, the firm posted ($0.17) EPS. The business’s revenue for the quarter was up 31.2% compared to the same quarter last year. Equities research analysts anticipate that Pfizer Inc. will post 2.94 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be given a $0.43 dividend. This is a boost from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.46%. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s payout ratio is currently 227.03%.

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.