Pfizer Inc. (NYSE:PFE) Shares Sold by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc cut its stake in Pfizer Inc. (NYSE:PFE) by 42.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,662 shares of the biopharmaceutical company’s stock after selling 23,208 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Pfizer were worth $916,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. City Holding Co. grew its stake in shares of Pfizer by 18.9% during the 2nd quarter. City Holding Co. now owns 29,910 shares of the biopharmaceutical company’s stock worth $837,000 after purchasing an additional 4,744 shares during the period. Accel Wealth Management increased its holdings in Pfizer by 12.6% in the second quarter. Accel Wealth Management now owns 8,317 shares of the biopharmaceutical company’s stock valued at $233,000 after buying an additional 932 shares in the last quarter. Sax Wealth Advisors LLC acquired a new position in shares of Pfizer in the second quarter worth about $300,000. Central Valley Advisors LLC purchased a new stake in shares of Pfizer during the 2nd quarter worth about $95,000. Finally, Optimum Investment Advisors raised its holdings in Pfizer by 88.4% in the 2nd quarter. Optimum Investment Advisors now owns 21,214 shares of the biopharmaceutical company’s stock worth $594,000 after purchasing an additional 9,956 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on PFE. Sanford C. Bernstein started coverage on shares of Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price for the company. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Citigroup started coverage on Pfizer in a research report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target for the company. Wolfe Research began coverage on Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 price objective on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.92.

Pfizer Stock Performance

NYSE:PFE opened at $25.72 on Friday. The company has a market cap of $145.75 billion, a price-to-earnings ratio of 34.76, a price-to-earnings-growth ratio of 0.69 and a beta of 0.65. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54. The company has a fifty day simple moving average of $27.54 and a two-hundred day simple moving average of $28.40.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same quarter in the prior year, the business earned ($0.17) EPS. Pfizer’s revenue was up 31.2% on a year-over-year basis. As a group, equities analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Friday, November 8th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.53%. Pfizer’s payout ratio is currently 227.03%.

Insider Buying and Selling at Pfizer

In related news, Director Scott Gottlieb acquired 1,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was bought at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. The trade was a 11.11 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.06% of the stock is owned by insiders.

Pfizer Company 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.