Old North State Trust LLC trimmed its position in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 23.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,969 shares of the biopharmaceutical company’s stock after selling 9,263 shares during the period. Pfizer makes up approximately 0.8% of Old North State Trust LLC’s holdings, making the stock its 26th largest holding. Old North State Trust LLC’s holdings in Pfizer were worth $1,223,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. RB Capital Management LLC boosted its holdings in Pfizer by 6.7% during the first quarter. RB Capital Management LLC now owns 5,446 shares of the biopharmaceutical company’s stock valued at $282,000 after purchasing an additional 341 shares in the last quarter. Ironwood Wealth Management LLC. boosted its holdings in Pfizer by 1.1% during the first quarter. Ironwood Wealth Management LLC. now owns 36,081 shares of the biopharmaceutical company’s stock valued at $1,868,000 after purchasing an additional 400 shares in the last quarter. United Bank boosted its holdings in Pfizer by 0.6% during the first quarter. United Bank now owns 46,671 shares of the biopharmaceutical company’s stock valued at $2,416,000 after purchasing an additional 290 shares in the last quarter. Ergoteles LLC boosted its holdings in Pfizer by 136.3% during the first quarter. Ergoteles LLC now owns 36,766 shares of the biopharmaceutical company’s stock valued at $1,903,000 after purchasing an additional 21,209 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Pfizer by 6.4% in the 1st quarter. Mackenzie Financial Corp now owns 1,337,418 shares of the biopharmaceutical company’s stock worth $69,238,000 after acquiring an additional 79,887 shares in the last quarter. 68.05% of the stock is currently owned by institutional investors.
Pfizer Stock Performance
Shares of Pfizer stock opened at $34.03 on Friday. The firm has a fifty day moving average of $35.83 and a two-hundred day moving average of $38.04. The stock has a market capitalization of $192.13 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 1.14 and a beta of 0.59. Pfizer Inc. has a 52 week low of $33.54 and a 52 week high of $54.93. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.82 and a current ratio of 2.12.
Pfizer Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Friday, July 28th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date of this dividend was Thursday, July 27th. Pfizer’s dividend payout ratio is currently 43.62%.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the company. HSBC assumed coverage on Pfizer in a report on Friday, July 14th. They issued a “buy” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on Pfizer from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday, July 17th. Jefferies Financial Group reduced their target price on Pfizer from $40.00 to $38.00 in a report on Wednesday, August 2nd. Barclays reduced their target price on Pfizer from $40.00 to $38.00 in a report on Tuesday, July 11th. Finally, Truist Financial reissued a “buy” rating and issued a $62.00 target price on shares of Pfizer in a report on Wednesday. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Pfizer has an average rating of “Hold” and an average target price of $46.35.
Pfizer Profile
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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