Busey Bank Sells 12,880 Shares of Pfizer Inc. $PFE

Key Points

• Busey Bank reduced its stake in Pfizer Inc. by 2.0%, now holding 623,808 shares valued at $15.1 million after selling 12,880 shares in Q2.
• Pfizer reported a quarterly earnings per share of $0.78, exceeding expectations, with revenues of $14.65 billion, marking a 10.3% increase from the previous year.
• The company declared a quarterly dividend of $0.43, resulting in an annualized yield of 7.2%, with a payout ratio of 91.49%.

Busey Bank cut its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 2.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 623,808 shares of the biopharmaceutical company's stock after selling 12,880 shares during the quarter. Busey Bank's holdings in Pfizer were worth $15,121,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC raised its stake in Pfizer by 1,282.4% in the 4th quarter. Brighton Jones LLC now owns 666,318 shares of the biopharmaceutical company's stock valued at $17,677,000 after acquiring an additional 618,117 shares during the period. Revolve Wealth Partners LLC lifted its position in shares of Pfizer by 12.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 18,766 shares of the biopharmaceutical company's stock valued at $498,000 after acquiring an additional 2,087 shares during the period. Vident Advisory LLC bought a new position in Pfizer in the 4th quarter valued at about $248,000. Novem Group bought a new stake in Pfizer during the fourth quarter worth $378,000. Finally, JT Stratford LLC grew its position in Pfizer by 42.3% in the fourth quarter. JT Stratford LLC now owns 24,353 shares of the biopharmaceutical company's stock valued at $646,000 after acquiring an additional 7,240 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company's stock.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of research reports. Morgan Stanley boosted their price objective on Pfizer from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Bank of America lifted their price target on Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Wall Street Zen upgraded shares of Pfizer from a "hold" rating to a "buy" rating in a report on Saturday. Berenberg Bank dropped their price objective on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating for the company in a report on Thursday, May 29th. Finally, Citigroup raised their price target on shares of Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Pfizer presently has a consensus rating of "Hold" and a consensus target price of $28.12.

Pfizer Price Performance

Shares of NYSE:PFE traded up $0.18 on Tuesday, hitting $24.22. The company's stock had a trading volume of 19,146,111 shares, compared to its average volume of 45,241,973. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $30.43. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.85. The company has a market capitalization of $137.68 billion, a PE ratio of 12.88, a PEG ratio of 0.78 and a beta of 0.55. The company has a 50-day simple moving average of $24.61 and a 200 day simple moving average of $24.18.

Pfizer (NYSE:PFE - Get Free Report) last issued its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.20. The company had revenue of $14.65 billion during the quarter, compared to analysts' expectations of $13.43 billion. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.Pfizer's quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 EPS. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. Sell-side analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, July 25th. This represents a $1.72 annualized dividend and a yield of 7.1%. Pfizer's dividend payout ratio (DPR) is currently 91.49%.

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.