Pfizer Inc. (NYSE:PFE) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust lowered its holdings in Pfizer Inc. (NYSE:PFE) by 6.5% during the fourth quarter, Holdings Channel reports. The fund owned 271,459 shares of the biopharmaceutical company’s stock after selling 18,858 shares during the quarter. FineMark National Bank & Trust’s holdings in Pfizer were worth $7,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in PFE. Corient Private Wealth LLC boosted its stake in shares of Pfizer by 0.8% in the third quarter. Corient Private Wealth LLC now owns 3,163,739 shares of the biopharmaceutical company’s stock valued at $104,927,000 after purchasing an additional 25,534 shares during the period. Syon Capital LLC purchased a new stake in shares of Pfizer during the 3rd quarter worth approximately $1,011,000. NBC Securities Inc. purchased a new stake in shares of Pfizer during the 3rd quarter worth approximately $2,361,000. Pinnacle Financial Partners Inc increased its holdings in shares of Pfizer by 3.9% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 438,863 shares of the biopharmaceutical company’s stock valued at $14,557,000 after acquiring an additional 16,558 shares during the period. Finally, Briaud Financial Planning Inc acquired a new position in shares of Pfizer in the 3rd quarter valued at $30,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PFE. BMO Capital Markets reissued an “outperform” rating and set a $36.00 target price (up previously from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Argus cut Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Guggenheim started coverage on Pfizer in a research note on Friday, February 23rd. They set a “buy” rating and a $36.00 price objective on the stock. Morgan Stanley increased their target price on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Monday, April 15th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $35.86.

Pfizer Trading Down 2.7 %

PFE traded down $0.80 during midday trading on Thursday, reaching $28.80. 32,151,818 shares of the company were exchanged, compared to its average volume of 42,457,871. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05. Pfizer Inc. has a one year low of $25.20 and a one year high of $40.37. The stock has a market capitalization of $163.20 billion, a P/E ratio of -480.75, a PEG ratio of 1.11 and a beta of 0.63. The stock’s 50-day simple moving average is $27.24 and its 200 day simple moving average is $27.97.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.26. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The business had revenue of $14.88 billion for the quarter, compared to analysts’ expectations of $13.87 billion. During the same quarter in the previous year, the business posted $1.23 EPS. Pfizer’s revenue for the quarter was down 19.5% on a year-over-year basis. As a group, analysts forecast that Pfizer Inc. will post 2.39 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s dividend payout ratio is presently -2,799.53%.

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.