First Western Trust Bank Sells 1,722 Shares of Pfizer Inc. (NYSE:PFE)

First Western Trust Bank lowered its position in shares of Pfizer Inc. (NYSE:PFE) by 6.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 23,611 shares of the biopharmaceutical company’s stock after selling 1,722 shares during the quarter. First Western Trust Bank’s holdings in Pfizer were worth $661,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Bordeaux Wealth Advisors LLC purchased a new stake in Pfizer during the 2nd quarter valued at $283,000. Hamel Associates Inc. raised its stake in shares of Pfizer by 18.4% in the second quarter. Hamel Associates Inc. now owns 125,608 shares of the biopharmaceutical company’s stock worth $3,514,000 after purchasing an additional 19,488 shares during the last quarter. Crumly & Associates Inc. raised its stake in shares of Pfizer by 37.5% in the second quarter. Crumly & Associates Inc. now owns 10,995 shares of the biopharmaceutical company’s stock worth $308,000 after purchasing an additional 2,998 shares during the last quarter. Beaumont Asset Management L.L.C. purchased a new position in shares of Pfizer in the second quarter worth $471,000. Finally, First Dallas Securities Inc. raised its stake in shares of Pfizer by 25.2% in the second quarter. First Dallas Securities Inc. now owns 25,300 shares of the biopharmaceutical company’s stock worth $708,000 after purchasing an additional 5,100 shares during the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wells Fargo & Company boosted their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. UBS Group boosted their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Monday, August 19th. Finally, Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Performance

Shares of PFE opened at $28.51 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The business has a 50-day simple moving average of $29.05 and a two-hundred day simple moving average of $28.04. The stock has a market cap of $161.55 billion, a price-to-earnings ratio of -475.09, a PEG ratio of 1.02 and a beta of 0.68. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $35.28.

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

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s payout ratio is -2,799.53%.

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.