Pfizer Inc. $PFE Shares Sold by Synovus Financial Corp

Key Points

• Synovus Financial Corp reduced its holdings in Pfizer by 2.5%, now owning 576,250 shares valued at approximately $14.6 million.
• Pfizer recently reported quarterly earnings of $0.78 per share, exceeding analysts' expectations and showing a 10.3% year-over-year revenue increase to $14.65 billion.
• The company declared a quarterly dividend of $0.43, representing a 6.7% yield, with a dividend payout ratio of 91.49%.

Synovus Financial Corp trimmed its position in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 2.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 576,250 shares of the biopharmaceutical company's stock after selling 14,861 shares during the period. Synovus Financial Corp's holdings in Pfizer were worth $14,602,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Clarity Asset Management Inc. acquired a new position in Pfizer during the fourth quarter worth $27,000. Gould Capital LLC lifted its stake in Pfizer by 97.2% during the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 493 shares in the last quarter. GKV Capital Management Co. Inc. acquired a new position in Pfizer during the first quarter worth $27,000. Bayforest Capital Ltd acquired a new position in Pfizer during the first quarter worth $28,000. Finally, North Capital Inc. acquired a new position in Pfizer during the first quarter worth $28,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Stock Up 0.3%

Pfizer stock opened at $25.8250 on Friday. 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 stock has a market cap of $146.83 billion, a PE ratio of 13.74, a P/E/G ratio of 0.92 and a beta of 0.52. The stock's fifty day moving average is $24.70 and its two-hundred day moving average is $24.40.

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

Pfizer Announces Dividend

The firm also recently declared 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. The ex-dividend date is Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a yield of 6.7%. Pfizer's dividend payout ratio (DPR) is currently 91.49%.

Analyst Upgrades and Downgrades

PFE has been the topic of a number of research reports. Bank of America upped their price target on Pfizer from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Jefferies Financial Group increased their price objective on Pfizer from $32.00 to $33.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Wolfe Research increased their price objective on Pfizer from $22.00 to $23.00 and gave the company an "underperform" rating in a research note on Wednesday, April 30th. Morgan Stanley increased their price objective on Pfizer from $32.00 to $33.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Finally, Redburn Atlantic reduced their price objective on Pfizer from $29.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $28.12.

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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