OLD National Bancorp IN trimmed its position in Pfizer Inc. (NYSE:PFE – Free Report) by 15.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 137,146 shares of the biopharmaceutical company’s stock after selling 25,661 shares during the quarter. OLD National Bancorp IN’s holdings in Pfizer were worth $5,596,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in PFE. Lam Group Inc. acquired a new position in Pfizer during the 4th quarter valued at about $25,000. Worth Asset Management LLC acquired a new position in Pfizer during the 1st quarter valued at about $29,000. My Personal CFO LLC acquired a new position in Pfizer during the 4th quarter valued at about $32,000. Mendota Financial Group LLC acquired a new position in shares of Pfizer in the fourth quarter valued at about $33,000. Finally, Delos Wealth Advisors LLC increased its holdings in shares of Pfizer by 100.0% in the third quarter. Delos Wealth Advisors LLC now owns 800 shares of the biopharmaceutical company’s stock valued at $35,000 after purchasing an additional 400 shares during the period. 67.80% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Pfizer
In related news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was purchased at an average price of $38.58 per share, with a total value of $38,580.00. Following the completion of the acquisition, the director now owns 6,000 shares in the company, valued at $231,480. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.05% of the company’s stock.
Pfizer Stock Performance
Pfizer (NYSE:PFE – Free Report) last released its earnings results on Tuesday, May 2nd. The biopharmaceutical company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.23. Pfizer had a return on equity of 37.53% and a net margin of 31.25%. The business had revenue of $18.28 billion for the quarter, compared to the consensus estimate of $16.49 billion. During the same quarter last year, the business posted $1.62 earnings per share. The business’s quarterly revenue was down 28.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Pfizer Inc. will post 3.35 EPS for the current fiscal year.
Pfizer Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, July 28th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $1.64 annualized dividend and a dividend yield of 4.47%. Pfizer’s dividend payout ratio is presently 32.28%.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on PFE. Morgan Stanley cut their price objective on Pfizer from $45.00 to $44.00 and set an “equal weight” rating on the stock in a report on Monday, April 10th. Bank of America dropped their target price on Pfizer from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, April 21st. StockNews.com lowered Pfizer from a “buy” rating to a “hold” rating in a report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Pfizer in a report on Wednesday, May 17th. Finally, Jefferies Financial Group assumed coverage on Pfizer in a report on Monday, March 6th. They set a “hold” rating and a $43.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Pfizer presently has a consensus rating of “Hold” and a consensus price target of $46.67.
About Pfizer
Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, 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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