CNB Bank Cuts Stake in Pfizer Inc. (NYSE:PFE)

by · The Cerbat Gem

CNB Bank trimmed its stake in Pfizer Inc. (NYSE:PFE – Free Report) by 6.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,674 shares of the biopharmaceutical company’s stock after selling 2,870 shares during the quarter. CNB Bank’s holdings in Pfizer were worth $1,031,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of PFE. Brighton Jones LLC raised its holdings in shares of Pfizer by 1,282.4% in the 4th quarter. Brighton Jones LLC now owns 666,318 shares of the biopharmaceutical company’s stock worth $17,677,000 after purchasing an additional 618,117 shares during the period. Revolve Wealth Partners LLC raised its holdings in Pfizer by 12.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 18,766 shares of the biopharmaceutical company’s stock valued at $498,000 after buying an additional 2,087 shares during the period. Denali Advisors LLC lifted its position in Pfizer by 12.8% during the fourth quarter. Denali Advisors LLC now owns 37,100 shares of the biopharmaceutical company’s stock valued at $984,000 after buying an additional 4,200 shares in the last quarter. Corrado Advisors LLC grew its stake in Pfizer by 15.2% during the fourth quarter. Corrado Advisors LLC now owns 70,974 shares of the biopharmaceutical company’s stock worth $1,883,000 after buying an additional 9,357 shares during the period. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Pfizer in the fourth quarter worth $108,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

PFE has been the subject of a number of research reports. Guggenheim reaffirmed a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. UBS Group upped their target price on Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $25.00 target price (down previously from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. Hsbc Global Res raised Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Pfizer in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and an average price target of $29.17.

Read Our Latest Stock Report on Pfizer

Pfizer Trading Up 0.2%

PFE opened at $24.30 on Friday. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $31.54. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 0.96. The stock has a market capitalization of $138.18 billion, a PE ratio of 17.61, a P/E/G ratio of 0.88 and a beta of 0.57. The firm’s fifty day moving average price is $23.42 and its 200 day moving average price is $24.85.

Pfizer (NYSE:PFE – Get Free Report) last issued its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.25. The business had revenue of $13.72 billion for the quarter, compared to analyst estimates of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.82 EPS. As a group, research analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be issued a $0.43 dividend. The ex-dividend date is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.08%. Pfizer’s dividend payout ratio (DPR) is 124.64%.

Pfizer Company Profile

(Free Report)

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.

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