Zions Bancorporation N.A. Sells 5,323 Shares of Pfizer Inc. (NYSE:PFE)

Zions Bancorporation N.A. reduced its holdings in shares of Pfizer Inc. (NYSE:PFE) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 205,306 shares of the biopharmaceutical company’s stock after selling 5,323 shares during the quarter. Zions Bancorporation N.A.’s holdings in Pfizer were worth $5,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. bought a new position in Pfizer in the first quarter valued at about $315,000. Koshinski Asset Management Inc. increased its position in Pfizer by 20.5% in the first quarter. Koshinski Asset Management Inc. now owns 24,265 shares of the biopharmaceutical company’s stock worth $673,000 after buying an additional 4,130 shares in the last quarter. Beacon Investment Advisory Services Inc. increased its position in Pfizer by 27.8% in the first quarter. Beacon Investment Advisory Services Inc. now owns 70,567 shares of the biopharmaceutical company’s stock worth $1,958,000 after buying an additional 15,347 shares in the last quarter. Brighton Jones LLC increased its position in Pfizer by 99.4% in the first quarter. Brighton Jones LLC now owns 122,276 shares of the biopharmaceutical company’s stock worth $3,393,000 after buying an additional 60,956 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its position in Pfizer by 16.0% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 72,467 shares of the biopharmaceutical company’s stock worth $2,011,000 after buying an additional 9,989 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on PFE shares. Barclays upped their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. UBS Group increased their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Wednesday, October 23rd. Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Finally, Citigroup assumed coverage on Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 target price for the company. Eight research analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.58.

Pfizer Price Performance

Shares of Pfizer stock opened at $26.72 on Thursday. The stock has a market cap of $151.42 billion, a price-to-earnings ratio of 36.11, a price-to-earnings-growth ratio of 0.83 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The stock has a 50 day moving average price of $28.76 and a 200-day moving average price of $28.67. Pfizer Inc. has a one year low of $25.20 and a one year high of $31.54.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. During the same quarter in the previous year, the business earned ($0.17) EPS. Pfizer’s revenue was up 31.2% compared to the same quarter last year. Equities analysts expect that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 6.29%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is 227.03%.

Insider Transactions at Pfizer

In related news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

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.