Truist Financial Corp Has $95.11 Million Stake in Pfizer Inc. (NYSE:PFE)

Truist Financial Corp decreased its stake in Pfizer Inc. (NYSE:PFE) by 17.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,303,487 shares of the biopharmaceutical company’s stock after selling 691,277 shares during the quarter. Truist Financial Corp’s holdings in Pfizer were worth $95,107,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Spinnaker Trust increased its holdings in shares of Pfizer by 78.3% in the fourth quarter. Spinnaker Trust now owns 86,160 shares of the biopharmaceutical company’s stock worth $2,481,000 after acquiring an additional 37,829 shares in the last quarter. K.J. Harrison & Partners Inc increased its holdings in shares of Pfizer by 13.4% in the fourth quarter. K.J. Harrison & Partners Inc now owns 41,801 shares of the biopharmaceutical company’s stock worth $1,203,000 after acquiring an additional 4,952 shares in the last quarter. Callan Capital LLC grew its holdings in shares of Pfizer by 8.8% during the fourth quarter. Callan Capital LLC now owns 11,576 shares of the biopharmaceutical company’s stock worth $333,000 after buying an additional 932 shares in the last quarter. Herold Advisors Inc. grew its holdings in shares of Pfizer by 1.6% during the fourth quarter. Herold Advisors Inc. now owns 63,762 shares of the biopharmaceutical company’s stock worth $1,836,000 after buying an additional 1,026 shares in the last quarter. Finally, Stanley Laman Group Ltd. grew its holdings in shares of Pfizer by 411.2% during the fourth quarter. Stanley Laman Group Ltd. now owns 55,599 shares of the biopharmaceutical company’s stock worth $1,601,000 after buying an additional 44,722 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PFE shares. Argus downgraded Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. TD Cowen downgraded Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price objective for the company. in a report on Thursday, January 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Monday, April 15th. Finally, Guggenheim began coverage on Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 price target for the company. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Pfizer presently has a consensus rating of “Hold” and an average target price of $36.33.

Pfizer Stock Performance

Shares of PFE traded up $0.14 during mid-day trading on Friday, reaching $25.40. The company’s stock had a trading volume of 46,526,457 shares, compared to its average volume of 34,120,812. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $40.37. The stock has a market cap of $143.83 billion, a P/E ratio of 70.56, a PEG ratio of 1.14 and a beta of 0.61. The business has a 50-day simple moving average of $26.96 and a two-hundred day simple moving average of $28.42. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.29. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. The company had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.37 billion. During the same period last year, the firm posted $1.14 earnings per share. The business’s revenue was down 41.3% on a year-over-year basis. As a group, equities research analysts anticipate that Pfizer Inc. will post 2.24 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 10th will be issued a dividend of $0.42 per share. The ex-dividend date is Thursday, May 9th. This represents a $1.68 annualized dividend and a yield of 6.61%. Pfizer’s payout ratio is currently 466.67%.

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.