Pfizer Inc. (NYSE:PFE) Shares Sold by Trustmark National Bank Trust Department

Trustmark National Bank Trust Department lessened its stake in shares of Pfizer Inc. (NYSE:PFE) by 70.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 35,985 shares of the biopharmaceutical company’s stock after selling 84,001 shares during the period. Trustmark National Bank Trust Department’s holdings in Pfizer were worth $999,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Wellington Management Group LLP increased its position in shares of Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after acquiring an additional 11,099,024 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Pfizer by 8.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock worth $2,985,783,000 after purchasing an additional 8,473,686 shares during the period. Norges Bank purchased a new position in Pfizer during the 4th quarter worth approximately $2,129,927,000. Massachusetts Financial Services Co. MA raised its stake in Pfizer by 13.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after purchasing an additional 8,298,920 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Pfizer by 21.8% in the first quarter. Van ECK Associates Corp now owns 15,813,328 shares of the biopharmaceutical company’s stock valued at $438,820,000 after purchasing an additional 2,829,178 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Pfizer Stock Down 0.1 %

Shares of PFE stock traded down $0.03 on Tuesday, hitting $29.57. The company’s stock had a trading volume of 12,076,189 shares, compared to its average volume of 39,713,770. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78. The stock has a market capitalization of $167.56 billion, a price-to-earnings ratio of -491.08, a P/E/G ratio of 1.17 and a beta of 0.69. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $37.80. The firm’s fifty day moving average price is $28.43 and its 200-day moving average price is $27.73.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.26. The company had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The firm’s revenue was down 19.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.23 EPS. Research analysts anticipate that Pfizer Inc. will post 2.39 EPS for the current year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend is Friday, July 26th. Pfizer’s dividend payout ratio is -2,799.53%.

Wall Street Analyst Weigh In

PFE has been the topic of several recent analyst reports. Barclays upped their price target on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Wednesday, July 10th. Morgan Stanley raised their price target on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 price objective (up previously from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Pfizer presently has an average rating of “Hold” and a consensus price target of $34.50.

Pfizer 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.