Truist Financial Corp Has $78.82 Million Position in Pfizer Inc. (NYSE:PFE)

Truist Financial Corp cut its stake in Pfizer Inc. (NYSE:PFE) by 8.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,970,968 shares of the biopharmaceutical company’s stock after selling 287,723 shares during the quarter. Truist Financial Corp owned approximately 0.05% of Pfizer worth $78,820,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. CIBC Asset Management Inc increased its stake in shares of Pfizer by 0.3% during the fourth quarter. CIBC Asset Management Inc now owns 1,068,039 shares of the biopharmaceutical company’s stock worth $28,335,000 after purchasing an additional 2,701 shares during the period. Pittenger & Anderson Inc. increased its position in Pfizer by 9,571.7% during the 4th quarter. Pittenger & Anderson Inc. now owns 102,520 shares of the biopharmaceutical company’s stock worth $2,720,000 after buying an additional 101,460 shares during the period. Cutler Investment Counsel LLC acquired a new stake in shares of Pfizer during the fourth quarter worth $4,687,000. Human Investing LLC bought a new stake in shares of Pfizer in the fourth quarter valued at about $85,000. Finally, KLCM Advisors Inc. grew its stake in shares of Pfizer by 44.0% in the fourth quarter. KLCM Advisors Inc. now owns 189,694 shares of the biopharmaceutical company’s stock valued at $5,033,000 after acquiring an additional 57,984 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Trading Down 0.6 %

Shares of Pfizer stock opened at $25.50 on Tuesday. The firm’s 50 day moving average is $26.28 and its 200 day moving average is $27.54. The firm has a market capitalization of $144.48 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 0.64 and a beta of 0.64. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. 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 posted its earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.15. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The firm had revenue of $17.76 billion for the quarter, compared to analysts’ expectations of $17.26 billion. During the same quarter in the previous year, the firm posted $0.10 earnings per share. The company’s revenue was up 24.7% on a year-over-year basis. Equities research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.75%. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, January 24th. Pfizer’s dividend payout ratio (DPR) is presently 121.99%.

Insider Transactions at Pfizer

In other Pfizer news, Director Ronald E. Blaylock bought 19,457 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $25.65 per share, for a total transaction of $499,072.05. Following the transaction, the director now directly owns 27,707 shares in the company, valued at approximately $710,684.55. This represents a 235.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. UBS Group cut their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Bank of America reaffirmed a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a report on Tuesday, December 10th. Wolfe Research assumed coverage on Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 target price on the stock. Finally, Truist Financial dropped their price target on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $31.92.

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.