Fulton Bank N.A. Sells 28,238 Shares of Pfizer Inc. (NYSE:PFE)

Fulton Bank N.A. cut its holdings in Pfizer Inc. (NYSE:PFE) by 22.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 97,044 shares of the biopharmaceutical company’s stock after selling 28,238 shares during the period. Fulton Bank N.A.’s holdings in Pfizer were worth $2,575,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Strategic Financial Concepts LLC bought a new position in shares of Pfizer in the 2nd quarter valued at about $38,000. Acadian Asset Management LLC boosted its position in Pfizer by 3.6% during the second quarter. Acadian Asset Management LLC now owns 326,990 shares of the biopharmaceutical company’s stock valued at $9,144,000 after purchasing an additional 11,246 shares during the last quarter. Ausdal Financial Partners Inc. grew its stake in Pfizer by 7.0% in the second quarter. Ausdal Financial Partners Inc. now owns 14,967 shares of the biopharmaceutical company’s stock valued at $419,000 after purchasing an additional 982 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Pfizer during the 2nd quarter worth approximately $570,000. Finally, Private Management Group Inc. raised its stake in shares of Pfizer by 190.9% during the 2nd quarter. Private Management Group Inc. now owns 77,307 shares of the biopharmaceutical company’s stock worth $2,163,000 after purchasing an additional 50,728 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PFE shares. Truist Financial lowered their target price on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. UBS Group lowered their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday. Bank of America reissued a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a research report on Tuesday, December 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. Finally, StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

Insider Transactions at Pfizer

In other Pfizer news, Director Scott Gottlieb acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at $282,400. This represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.06% of the company’s stock.

Pfizer Price Performance

Shares of NYSE:PFE traded down $0.38 during midday trading on Wednesday, hitting $26.75. The stock had a trading volume of 15,659,894 shares, compared to its average volume of 32,020,932. The company’s 50-day moving average price is $26.27 and its 200-day moving average price is $28.07. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $151.59 billion, a P/E ratio of 36.15, a price-to-earnings-growth ratio of 0.63 and a beta of 0.64.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same period in the previous year, the business earned ($0.17) earnings per share. The company’s revenue was up 31.2% on a year-over-year basis. As a group, equities research analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal 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 issued a dividend of $0.43 per share. The ex-dividend date is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 6.43%. Pfizer’s payout ratio is 232.43%.

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.