First Citizens Bank & Trust Co. Sells 10,247 Shares of Pfizer Inc. $PFE

Key Points

• First Citizens Bank & Trust Co. has reduced its holdings in Pfizer Inc. by 9.1%, selling 10,247 shares during the second quarter, leaving it with 102,645 shares worth approximately $2.49 million.
• Pfizer recently reported earnings of $0.78 per share, exceeding analysts' expectations and showing a 10.3% increase in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.43 per share, which will be paid to shareholders on December 1st, representing an annualized yield of 7.0%.

First Citizens Bank & Trust Co. lowered its position in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 9.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 102,645 shares of the biopharmaceutical company's stock after selling 10,247 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Pfizer were worth $2,488,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. boosted its position in shares of Pfizer by 856.8% during the 1st quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company's stock worth $508,164,000 after purchasing an additional 17,957,928 shares in the last quarter. Amundi boosted its position in shares of Pfizer by 43.4% during the 1st 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 in the last quarter. Nuveen LLC bought a new position in shares of Pfizer during the 1st quarter worth about $389,861,000. Goldman Sachs Group Inc. boosted its position in shares of Pfizer by 51.9% during the 1st 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 in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Pfizer by 0.9% during the 1st 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 in the last quarter. Institutional investors own 68.36% of the company's stock.

Pfizer Trading Down 0.2%

PFE opened at $24.68 on Friday. 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 fifty-two week low of $20.92 and a fifty-two week high of $29.17. The firm has a market capitalization of $140.29 billion, a PE ratio of 13.13, a P/E/G ratio of 0.82 and a beta of 0.55. The company's 50-day moving average is $24.87 and its 200 day moving average is $24.15.

Pfizer (NYSE:PFE - Get Free Report) last posted its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.20. The company had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The firm's revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 EPS. 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 earnings per share for the current fiscal year.

Pfizer Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. UBS Group reissued a "neutral" rating and set a $28.00 price objective on shares of Pfizer in a research report on Wednesday, October 1st. Wall Street Zen cut shares of Pfizer from a "buy" rating to a "hold" rating in a research report on Sunday, September 28th. Citigroup increased their price objective on shares of Pfizer from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Weiss Ratings restated a "hold (c-)" rating on shares of Pfizer in a report on Wednesday, October 8th. Finally, Morgan Stanley lowered their target price on shares of Pfizer from $33.00 to $32.00 and set an "equal weight" rating on the stock in a report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Pfizer has an average rating of "Hold" and a consensus price target of $28.13.

Pfizer Company 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.

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