Cullen Frost Bankers Inc. Sells 49,949 Shares of Pfizer Inc. $PFE

Cullen Frost Bankers Inc. reduced its stake in Pfizer Inc. (NYSE:PFE) by 17.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 233,500 shares of the biopharmaceutical company’s stock after selling 49,949 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Pfizer were worth $5,660,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PFE. Pacer Advisors Inc. raised its holdings in Pfizer by 856.8% in the 1st quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company’s stock valued at $508,164,000 after acquiring an additional 17,957,928 shares during the period. Amundi increased its holdings in shares of Pfizer by 43.4% during the first quarter. Amundi now owns 52,090,403 shares of the biopharmaceutical company’s stock worth $1,265,277,000 after purchasing an additional 15,758,846 shares during the period. Nuveen LLC bought a new position in shares of Pfizer during the first quarter worth approximately $389,861,000. Goldman Sachs Group Inc. increased its holdings in shares of Pfizer by 51.9% during the first quarter. Goldman Sachs Group Inc. now owns 26,456,457 shares of the biopharmaceutical company’s stock worth $670,407,000 after purchasing an additional 9,041,990 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Pfizer by 0.9% during the first quarter. Vanguard Group Inc. now owns 523,165,127 shares of the biopharmaceutical company’s stock worth $13,257,004,000 after purchasing an additional 4,629,976 shares during the period. 68.36% of the stock is owned by institutional investors.

Pfizer Stock Performance

Shares of NYSE:PFE opened at $24.72 on Thursday. The company’s 50 day simple moving average is $24.88 and its 200 day simple moving average is $24.13. The stock has a market capitalization of $140.52 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth ratio of 0.82 and a beta of 0.55. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.85. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $29.17.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.20. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The business had revenue of $14.65 billion for the quarter, compared to analysts’ expectations of $13.43 billion. During the same period last year, the firm posted $0.60 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. As a group, research analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be given a $0.43 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.72 dividend on an annualized basis and a yield of 7.0%. Pfizer’s dividend payout ratio (DPR) is currently 91.49%.

Analysts Set New Price Targets

Several brokerages have recently commented on PFE. Wall Street Zen cut shares of Pfizer from a “buy” rating to a “hold” rating in a report on Sunday, September 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Pfizer in a report on Wednesday, October 8th. UBS Group reaffirmed a “neutral” rating and set a $28.00 target price on shares of Pfizer in a report on Wednesday, October 1st. Morgan Stanley decreased their price objective on shares of Pfizer from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Friday, October 10th. Finally, Bank of America lifted their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.13.

About Pfizer

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.