Fulton Bank N.A. Reduces Holdings in Pfizer Inc. (NYSE:PFE)

Fulton Bank N.A. cut its position in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 17.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,908 shares of the biopharmaceutical company's stock after selling 17,136 shares during the period. Fulton Bank N.A.'s holdings in Pfizer were worth $2,025,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Rialto Wealth Management LLC bought a new position in Pfizer during the 4th quarter valued at about $26,000. Clarity Asset Management Inc. purchased a new position in Pfizer during the 4th quarter valued at $27,000. Gould Capital LLC boosted its holdings in Pfizer by 97.2% during the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock valued at $27,000 after acquiring an additional 493 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Pfizer during the fourth quarter worth approximately $28,000. Finally, Bernard Wealth Management Corp. purchased a new stake in Pfizer in the fourth quarter worth about $30,000. 68.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PFE has been the subject of a number of analyst reports. Citigroup restated a "neutral" rating on shares of Pfizer in a research note on Thursday, March 27th. The Goldman Sachs Group restated a "neutral" rating and issued a $25.00 price target (down from $32.00) on shares of Pfizer in a report on Tuesday, April 8th. Cantor Fitzgerald started coverage on shares of Pfizer in a research note on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price objective for the company. Guggenheim restated a "buy" rating on shares of Pfizer in a research note on Tuesday, March 18th. Finally, Hsbc Global Res raised Pfizer to a "strong-buy" rating in a research report on Monday, March 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Pfizer currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.17.

Pfizer Stock Performance

Shares of PFE stock traded down $0.29 during trading hours on Thursday, hitting $23.11. The company's stock had a trading volume of 33,167,122 shares, compared to its average volume of 40,928,192. The stock has a market cap of $131.36 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 0.64 and a beta of 0.58. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $31.54. The company has a 50 day moving average of $23.02 and a 200 day moving average of $25.02. 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 the consensus estimate of $0.67 by $0.25. The company had revenue of $13.72 billion for the quarter, compared to the consensus estimate of $14.43 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm's revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period last year, the firm earned $0.82 EPS. On average, sell-side analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 9th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 7.44%. The ex-dividend date of this dividend is Friday, May 9th. Pfizer's dividend payout ratio is currently 124.64%.

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.