Pfizer Inc. (NYSE:PFE) Position Trimmed by Fulton Bank N.A.

Fulton Bank N.A. lowered its stake in Pfizer Inc. (NYSE:PFE) by 22.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 97,044 shares of the biopharmaceutical company’s stock after selling 28,238 shares during the period. Fulton Bank N.A.’s holdings in Pfizer were worth $2,575,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of PFE. Strategic Financial Concepts LLC purchased a new position in shares of Pfizer in the second quarter worth approximately $38,000. Acadian Asset Management LLC grew its position in Pfizer by 3.6% in the second quarter. Acadian Asset Management LLC now owns 326,990 shares of the biopharmaceutical company’s stock worth $9,144,000 after acquiring an additional 11,246 shares in the last quarter. Ausdal Financial Partners Inc. increased its position in Pfizer by 7.0% during the second quarter. Ausdal Financial Partners Inc. now owns 14,967 shares of the biopharmaceutical company’s stock worth $419,000 after buying an additional 982 shares during the last quarter. Quest Partners LLC bought a new position in Pfizer during the second quarter valued at about $570,000. Finally, Private Management Group Inc. lifted its position in shares of Pfizer by 190.9% in the second quarter. Private Management Group Inc. now owns 77,307 shares of the biopharmaceutical company’s stock worth $2,163,000 after buying an additional 50,728 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Sanford C. Bernstein assumed coverage on shares of Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target on the stock. Bank of America reaffirmed a “neutral” rating and set a $29.00 price objective on shares of Pfizer in a research report on Tuesday, December 10th. Citigroup assumed coverage on Pfizer in a research report on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price for the company. Guggenheim dropped their price objective 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. Finally, UBS Group decreased their target price on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and an average price target of $32.00.

Insider Buying and Selling at Pfizer

In other Pfizer news, Director Scott Gottlieb acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

Pfizer Price Performance

PFE traded down $0.38 during midday trading on Wednesday, hitting $26.75. The company had a trading volume of 15,659,894 shares, compared to its average volume of 32,020,932. The firm’s 50-day simple moving average is $26.27 and its 200-day simple moving average is $28.07. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The company has a market capitalization of $151.59 billion, a PE ratio of 36.15, a P/E/G ratio of 0.63 and a beta of 0.64.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.17) earnings per share. Equities research analysts predict that Pfizer Inc. will post 2.95 EPS 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 issued a $0.43 dividend. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 6.43%. The ex-dividend date is Friday, January 24th. Pfizer’s dividend payout ratio is currently 232.43%.

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.