Zions Bancorporation National Association UT Acquires Shares of 275,128 Pfizer Inc. (NYSE:PFE)

Key Points

• Zions Bancorporation acquired 275,128 shares of Pfizer, valued at approximately $6.97 million, highlighting ongoing institutional interest in the biopharmaceutical company.
• Wall Street analysts have mixed reviews on Pfizer, with a consensus rating of "Hold" and an average price target of $28.12, indicating potential for modest growth.
• Pfizer declared a quarterly dividend of $0.43 per share, reflecting a 7.1% yield, while the dividend payout ratio stands at a high 91.49%.

Zions Bancorporation National Association UT purchased a new stake in Pfizer Inc. (NYSE:PFE - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 275,128 shares of the biopharmaceutical company's stock, valued at approximately $6,972,000.

Several other institutional investors have also made changes to their positions in PFE. Clarity Asset Management Inc. bought a new position in Pfizer in the fourth quarter valued at approximately $27,000. Gould Capital LLC boosted its stake in shares of Pfizer by 97.2% in the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 493 shares in the last quarter. Bayforest Capital Ltd acquired a new position in Pfizer during the 1st quarter worth approximately $28,000. North Capital Inc. bought a new position in Pfizer in the 1st quarter valued at approximately $28,000. Finally, Bernard Wealth Management Corp. acquired a new stake in Pfizer in the fourth quarter valued at approximately $30,000. 68.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PFE shares. UBS Group raised their price objective on Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Morgan Stanley boosted their target price on shares of Pfizer from $32.00 to $33.00 and gave the stock an "equal weight" rating in a report on Wednesday. HSBC dropped their price target on shares of Pfizer from $27.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, May 19th. Berenberg Bank reduced their price objective on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a research note on Thursday, May 29th. Finally, Cantor Fitzgerald began coverage on Pfizer in a research report on Tuesday, April 22nd. They set a "neutral" rating and a $24.00 target price for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Pfizer currently has a consensus rating of "Hold" and an average price target of $28.12.

Pfizer Stock Performance

NYSE:PFE opened at $24.25 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.16 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $30.43. The company has a fifty day moving average of $24.42 and a 200-day moving average of $24.52. The firm has a market capitalization of $137.84 billion, a P/E ratio of 12.90, a P/E/G ratio of 0.87 and a beta of 0.52.

Pfizer (NYSE:PFE - Get Free Report) last issued its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $13.43 billion. During the same period last year, the business posted $0.60 EPS. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be given a $0.43 dividend. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 annualized dividend and a yield of 7.1%. Pfizer's dividend payout ratio (DPR) is presently 91.49%.

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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