Park National Corp OH Lowers Position in Pfizer Inc. (NYSE:PFE)

Park National Corp OH trimmed its position in shares of Pfizer Inc. (NYSE:PFE) by 5.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 446,577 shares of the biopharmaceutical company’s stock after selling 23,764 shares during the quarter. Park National Corp OH’s holdings in Pfizer were worth $12,393,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Clifford Swan Investment Counsel LLC grew its position in shares of Pfizer by 4.7% during the 4th quarter. Clifford Swan Investment Counsel LLC now owns 417,070 shares of the biopharmaceutical company’s stock valued at $12,007,000 after acquiring an additional 18,611 shares during the period. Adage Capital Partners GP L.L.C. lifted its position in shares of Pfizer by 40.5% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,739,672 shares of the biopharmaceutical company’s stock valued at $157,215,000 after buying an additional 1,365,295 shares in the last quarter. LifePlan Financial LLC acquired a new stake in Pfizer in the 4th quarter valued at $255,000. Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in Pfizer in the 4th quarter worth $16,166,000. Finally, KLCM Advisors Inc. lifted its holdings in Pfizer by 75.0% during the fourth quarter. KLCM Advisors Inc. now owns 173,793 shares of the biopharmaceutical company’s stock valued at $5,004,000 after purchasing an additional 74,487 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PFE shares. BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 price objective (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Guggenheim initiated coverage on Pfizer in a research note on Friday, February 23rd. They issued a “buy” rating and a $36.00 price objective for the company. Morgan Stanley lifted their target price on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Monday. Finally, Argus downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $35.86.

Pfizer Stock Performance

Shares of Pfizer stock opened at $27.41 on Wednesday. The firm has a market cap of $155.32 billion, a PE ratio of -456.76, a price-to-earnings-growth ratio of 1.06 and a beta of 0.70. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $39.87. The business’s fifty day simple moving average is $27.58 and its 200-day simple moving average is $27.73.

Pfizer (NYSE:PFE) last announced its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The company had revenue of $14.88 billion during the quarter, compared to analyst estimates of $13.87 billion. During the same quarter last year, the firm posted $1.23 earnings per share. Pfizer’s revenue was down 19.5% compared to the same quarter last year. Equities analysts forecast that Pfizer Inc. will post 2.38 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 10th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 6.13%. The ex-dividend date of this dividend was Thursday, May 9th. Pfizer’s dividend payout ratio (DPR) is -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.