Community Trust & Investment Co. Cuts Stock Holdings in Pfizer Inc. (NYSE:PFE)

Community Trust & Investment Co. lessened its holdings in Pfizer Inc. (NYSE:PFE) by 0.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 112,983 shares of the biopharmaceutical company’s stock after selling 815 shares during the period. Community Trust & Investment Co.’s holdings in Pfizer were worth $2,997,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PFE. Charles Schwab Investment Management Inc. boosted its position in Pfizer by 11.0% during the 3rd 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 acquiring an additional 12,864,343 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Pfizer by 279.3% during the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock worth $150,481,000 after purchasing an additional 8,378,173 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Pfizer by 22.4% in 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 valued at $1,101,713,000 after purchasing an additional 6,977,587 shares during the last quarter. International Assets Investment Management LLC bought a new position in Pfizer in the third quarter worth about $146,481,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of 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 valued at $211,737,000 after buying an additional 4,546,809 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors.

Pfizer Trading Down 1.5 %

NYSE PFE opened at $26.41 on Wednesday. The company has a fifty day moving average of $26.13 and a 200 day moving average of $28.03. The company has a market capitalization of $149.67 billion, a PE ratio of 35.69, a P/E/G ratio of 0.63 and a beta of 0.64. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54.

Pfizer (NYSE:PFE) last issued its 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. The firm had revenue of $17.70 billion for 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 company’s revenue was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.17) earnings per share. Research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, January 24th. This is an increase from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 6.51%. Pfizer’s dividend payout ratio is 232.43%.

Insider Activity at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $282,400. The trade was a 11.11 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Truist Financial reduced their price objective on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Wednesday, October 23rd. Guggenheim reduced their target price on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Evercore ISI raised Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, Sanford C. Bernstein initiated coverage on shares of Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.00.

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.