Pfizer Inc. (NYSE:PFE) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. reduced its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 26.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 283,449 shares of the biopharmaceutical company's stock after selling 103,406 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Pfizer were worth $7,183,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Providence Capital Advisors LLC grew its holdings in Pfizer by 0.4% in the fourth quarter. Providence Capital Advisors LLC now owns 114,358 shares of the biopharmaceutical company's stock worth $3,034,000 after purchasing an additional 409 shares during the period. William B. Walkup & Associates Inc. grew its holdings in Pfizer by 1.2% in the fourth quarter. William B. Walkup & Associates Inc. now owns 39,368 shares of the biopharmaceutical company's stock worth $1,044,000 after purchasing an additional 454 shares during the period. Sutton Place Investors LLC grew its holdings in Pfizer by 5.6% in the first quarter. Sutton Place Investors LLC now owns 8,833 shares of the biopharmaceutical company's stock worth $224,000 after purchasing an additional 472 shares during the period. Bellevue Group AG lifted its stake in shares of Pfizer by 0.3% in the fourth quarter. Bellevue Group AG now owns 141,560 shares of the biopharmaceutical company's stock valued at $3,756,000 after buying an additional 485 shares in the last quarter. Finally, Gould Capital LLC lifted its stake in shares of Pfizer by 97.2% in the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock valued at $27,000 after buying an additional 493 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PFE has been the topic of a number of recent research reports. Bank of America raised their price objective on shares of Pfizer from $26.00 to $27.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Berenberg Bank dropped their price target on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a research report on Thursday, May 29th. UBS Group raised their price target on shares of Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Cantor Fitzgerald initiated coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price target on the stock. Finally, BMO Capital Markets lowered their price objective on shares of Pfizer from $36.00 to $30.00 in a research report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $28.55.

Pfizer Trading Down 0.1%

NYSE PFE traded down $0.02 on Thursday, hitting $24.59. 47,333,190 shares of the stock were exchanged, compared to its average volume of 41,955,789. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 1.26. The stock has a fifty day moving average price of $23.99 and a two-hundred day moving average price of $24.77. The firm has a market capitalization of $139.83 billion, a P/E ratio of 17.82, a P/E/G ratio of 0.90 and a beta of 0.58. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $31.54.

Pfizer (NYSE:PFE - Get Free Report) last released its 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. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. The business had revenue of $13.72 billion during the quarter, compared to the consensus estimate of $14.43 billion. During the same period last year, the company earned $0.82 earnings per share. The business's revenue for the quarter was down 7.8% compared to the same quarter last year. Research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be issued a $0.43 dividend. The ex-dividend date is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a yield of 6.99%. Pfizer's dividend payout ratio is presently 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.