Pfizer Inc. (NYSE:PFE) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. reduced its stake in Pfizer Inc. (NYSE:PFE) by 24.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 436,823 shares of the biopharmaceutical company’s stock after selling 140,266 shares during the period. Cullen Frost Bankers Inc.’s holdings in Pfizer were worth $12,222,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FAS Wealth Partners Inc. raised its position in Pfizer by 1.3% in the 2nd quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock valued at $736,000 after purchasing an additional 342 shares in the last quarter. Ironvine Capital Partners LLC raised its holdings in Pfizer by 2.1% in the first quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock valued at $470,000 after acquiring an additional 353 shares in the last quarter. Secure Asset Management LLC lifted its stake in Pfizer by 0.6% in the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock worth $1,632,000 after acquiring an additional 353 shares during the last quarter. Patrick M Sweeney & Associates Inc. grew its holdings in Pfizer by 0.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock worth $1,180,000 after acquiring an additional 355 shares in the last quarter. Finally, Continuum Advisory LLC increased its position in shares of Pfizer by 1.5% in the 2nd quarter. Continuum Advisory LLC now owns 25,185 shares of the biopharmaceutical company’s stock valued at $705,000 after purchasing an additional 360 shares during the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PFE. Barclays boosted their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company boosted their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and upped their target price for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Stock Performance

Shares of PFE stock opened at $28.56 on Friday. The stock’s 50-day moving average price is $29.06 and its 200 day moving average price is $28.05. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $161.84 billion, a PE ratio of -476.00, a price-to-earnings-growth ratio of 1.02 and a beta of 0.68. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $34.64.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same quarter in the previous year, the company posted $0.67 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 5.88%. The ex-dividend date was Friday, July 26th. Pfizer’s payout ratio is -2,800.00%.

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.