Pfizer Inc. (NYSE:PFE) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lessened its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 56.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 112,892 shares of the biopharmaceutical company's stock after selling 144,305 shares during the period. First Citizens Bank & Trust Co.'s holdings in Pfizer were worth $2,861,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Rialto Wealth Management LLC purchased a new position in Pfizer during the fourth quarter worth $26,000. Clarity Asset Management Inc. acquired a new position in Pfizer in the 4th quarter valued at about $27,000. Gould Capital LLC lifted its holdings in Pfizer by 97.2% in the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 493 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Pfizer during the 4th quarter worth about $28,000. Finally, Bernard Wealth Management Corp. purchased a new stake in shares of Pfizer during the fourth quarter worth about $30,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PFE has been the topic of several recent analyst reports. The Goldman Sachs Group reissued a "neutral" rating and set a $25.00 price objective (down previously from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. UBS Group increased their price target on Pfizer from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Hsbc Global Res raised Pfizer to a "strong-buy" rating in a research report on Monday, March 10th. Guggenheim reissued a "buy" rating on shares of Pfizer in a research note on Tuesday, March 18th. Finally, Citigroup reaffirmed a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $29.17.

Pfizer Trading Up 1.4%

PFE traded up $0.34 during trading on Wednesday, hitting $24.64. 8,915,539 shares of the company's stock were exchanged, compared to its average volume of 40,914,657. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $31.54. The stock has a 50 day moving average price of $22.93 and a 200 day moving average price of $24.98. The firm has a market cap of $140.08 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 0.64 and a beta of 0.57. 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 - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The firm had revenue of $13.72 billion during the quarter, compared to analysts' expectations of $14.43 billion. During the same period in the prior year, the company earned $0.82 EPS. The firm's revenue was down 7.8% on a year-over-year basis. As a group, analysts expect 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 Friday, June 13th. Investors of record on Friday, May 9th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.72 annualized dividend and a dividend yield of 6.98%. Pfizer's payout ratio is currently 124.64%.

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.