Truist Financial Corp Has $74 Million Position in Pfizer Inc. (NYSE:PFE)

Truist Financial Corp lessened its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,920,254 shares of the biopharmaceutical company's stock after selling 50,714 shares during the quarter. Truist Financial Corp owned approximately 0.05% of Pfizer worth $73,999,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PFE. Norges Bank purchased a new position in Pfizer during the 4th quarter valued at about $2,328,986,000. Starboard Value LP acquired a new stake in shares of Pfizer during the 4th quarter valued at about $407,730,000. Assenagon Asset Management S.A. lifted its holdings in shares of Pfizer by 307.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 10,046,340 shares of the biopharmaceutical company's stock valued at $254,574,000 after buying an additional 7,581,030 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Pfizer by 7.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company's stock valued at $2,029,604,000 after buying an additional 5,350,381 shares during the last quarter. Finally, APG Asset Management N.V. lifted its holdings in shares of Pfizer by 1,106.0% during the 4th quarter. APG Asset Management N.V. now owns 5,619,213 shares of the biopharmaceutical company's stock valued at $143,967,000 after buying an additional 5,153,257 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company's stock.

Pfizer Stock Performance

Shares of PFE traded up $0.13 on Tuesday, reaching $25.37. 27,801,471 shares of the stock traded hands, compared to its average volume of 45,890,301. The firm has a market cap of $144.24 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 0.92 and a beta of 0.58. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 0.96. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $31.54. The stock's 50-day moving average price is $23.76 and its 200-day moving average price is $24.81.

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, beating analysts' consensus estimates of $0.67 by $0.25. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. The firm had revenue of $13.72 billion for the quarter, compared to analysts' expectations of $14.43 billion. During the same period in the prior year, the business posted $0.82 earnings per share. The business's revenue was down 7.8% compared to the same quarter last year. Equities analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 6.78%. The ex-dividend date is Friday, July 25th. Pfizer's dividend payout ratio is currently 124.64%.

Analysts Set New Price Targets

PFE has been the subject of several research reports. UBS Group lifted their price target on Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. BMO Capital Markets reduced their price target on Pfizer from $36.00 to $30.00 in a report on Thursday, April 17th. Cantor Fitzgerald began coverage on Pfizer in a report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 price target for the company. Jefferies Financial Group boosted their target price on Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Finally, Morgan Stanley boosted their target price on Pfizer from $31.00 to $32.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, Pfizer currently has a consensus rating of "Hold" and a consensus price target of $28.55.

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.