Pinnacle Financial Partners Inc Has $2.47 Million Stake in Pfizer Inc. (NYSE:PFE)

Pinnacle Financial Partners Inc trimmed its position in shares of Pfizer Inc. (NYSE:PFE) by 11.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 91,559 shares of the biopharmaceutical company’s stock after selling 12,244 shares during the period. Pinnacle Financial Partners Inc’s holdings in Pfizer were worth $2,469,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Wells Trecaso Financial Group LLC raised its stake in shares of Pfizer by 2.5% in the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after acquiring an additional 350 shares in the last quarter. Washington Trust Advisors Inc. raised its stake in shares of Pfizer by 0.7% in the 3rd quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company’s stock valued at $1,424,000 after acquiring an additional 360 shares in the last quarter. PSI Advisors LLC raised its stake in shares of Pfizer by 1.4% in the 4th quarter. PSI Advisors LLC now owns 27,823 shares of the biopharmaceutical company’s stock valued at $738,000 after acquiring an additional 385 shares in the last quarter. Western Pacific Wealth Management LP raised its stake in shares of Pfizer by 10.5% in the 3rd quarter. Western Pacific Wealth Management LP now owns 4,073 shares of the biopharmaceutical company’s stock valued at $118,000 after acquiring an additional 386 shares in the last quarter. Finally, Waddell & Associates LLC raised its stake in shares of Pfizer by 1.6% in the 3rd quarter. Waddell & Associates LLC now owns 24,978 shares of the biopharmaceutical company’s stock valued at $723,000 after acquiring an additional 388 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Pfizer Price Performance

Shares of NYSE:PFE opened at $26.32 on Friday. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54. The firm has a market capitalization of $149.14 billion, a PE ratio of 18.66, a PEG ratio of 0.64 and a beta of 0.64. The business’s 50 day moving average is $26.30 and its 200-day moving average is $27.41. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.48 by $0.15. The business had revenue of $17.76 billion for the quarter, compared to analyst estimates of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. Pfizer’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 EPS. Sell-side analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be paid a $0.43 dividend. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. This represents a $1.72 annualized dividend and a yield of 6.54%. Pfizer’s payout ratio is currently 121.99%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PFE. Evercore ISI raised Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Guggenheim reaffirmed a “buy” rating and issued a $33.00 price target on shares of Pfizer in a research report on Monday, February 10th. Citigroup dropped their price target on Pfizer from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Finally, Truist Financial dropped their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $31.92.

Insider Activity at Pfizer

In related news, Director Ronald E. Blaylock purchased 19,457 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average price of $25.65 per share, with a total value of $499,072.05. Following the purchase, the director now directly owns 27,707 shares in the company, valued at $710,684.55. This represents a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.06% of the stock is owned by insiders.

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.