Sabal Trust CO Sells 30,625 Shares of Pfizer Inc. (NYSE:PFE)

Sabal Trust CO decreased its holdings in Pfizer Inc. (NYSE:PFE) by 3.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 852,564 shares of the biopharmaceutical company’s stock after selling 30,625 shares during the period. Sabal Trust CO’s holdings in Pfizer were worth $23,855,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PFE. Intact Investment Management Inc. boosted its stake in Pfizer by 9.9% during the second quarter. Intact Investment Management Inc. now owns 423,200 shares of the biopharmaceutical company’s stock valued at $11,841,000 after buying an additional 38,200 shares during the last quarter. Canal Capital Management LLC boosted its stake in Pfizer by 31.3% during the second quarter. Canal Capital Management LLC now owns 26,558 shares of the biopharmaceutical company’s stock valued at $743,000 after buying an additional 6,328 shares during the last quarter. Birch Hill Investment Advisors LLC boosted its stake in Pfizer by 9.8% during the second quarter. Birch Hill Investment Advisors LLC now owns 28,042 shares of the biopharmaceutical company’s stock valued at $785,000 after buying an additional 2,500 shares during the last quarter. WP Advisors LLC boosted its stake in Pfizer by 24.6% during the second quarter. WP Advisors LLC now owns 81,294 shares of the biopharmaceutical company’s stock valued at $2,275,000 after buying an additional 16,053 shares during the last quarter. Finally, VAUGHAN & Co SECURITIES INC. boosted its stake in Pfizer by 43.6% during the second quarter. VAUGHAN & Co SECURITIES INC. now owns 27,570 shares of the biopharmaceutical company’s stock valued at $771,000 after buying an additional 8,370 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

PFE has been the subject of a number of research reports. Barclays increased their price target on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Wells Fargo & Company upped their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. UBS Group upped their price objective on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Monday, August 19th. Finally, Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Price Performance

Shares of NYSE PFE opened at $29.01 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The business’s 50 day moving average price is $28.99 and its 200-day moving average price is $28.01. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $36.29.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. During the same period in the prior year, the business posted $0.67 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities research analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 5.79%. Pfizer’s payout ratio is currently -2,799.53%.

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.