Texas Capital Bank Wealth Management Services Inc Decreases Holdings in Pfizer Inc. (NYSE:PFE)

Texas Capital Bank Wealth Management Services Inc lowered its position in Pfizer Inc. (NYSE:PFE) by 42.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,662 shares of the biopharmaceutical company’s stock after selling 23,208 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Pfizer were worth $916,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its stake in Pfizer by 1.2% in the 3rd quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock worth $8,405,930,000 after buying an additional 3,405,539 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position 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 worth $3,766,366,000 after purchasing an additional 12,864,343 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Pfizer by 3.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after purchasing an additional 2,241,609 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of 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 valued at $1,101,713,000 after buying an additional 6,977,587 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Pfizer by 0.6% in the third quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock worth $486,762,000 after buying an additional 100,900 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PFE has been the topic of a number of research reports. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. StockNews.com cut shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Sanford C. Bernstein started coverage on Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target for the company. Wolfe Research began coverage on Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.92.

Pfizer Stock Up 1.9 %

Shares of NYSE:PFE opened at $25.72 on Friday. 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 is $27.54 and its 200 day moving average is $28.40. The stock has a market cap of $145.75 billion, a P/E ratio of 34.76, a price-to-earnings-growth ratio of 0.69 and a beta of 0.65. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same quarter last year, the firm posted ($0.17) EPS. The company’s revenue for the quarter was up 31.2% on a year-over-year basis. Sell-side analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 6.53%. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Insider Activity

In other news, Director Scott Gottlieb purchased 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, for a total transaction of $28,240.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. This represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.06% of the company’s stock.

Pfizer Company 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.