Pfizer Inc. (NYSE:PFE) Shares Sold by Hancock Whitney Corp

Hancock Whitney Corp cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 55.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 151,386 shares of the biopharmaceutical company’s stock after selling 191,500 shares during the quarter. Hancock Whitney Corp’s holdings in Pfizer were worth $4,236,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PFE. Olistico Wealth LLC purchased a new position in Pfizer in the second quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new position in shares of Pfizer in the 2nd quarter valued at about $29,000. Creekmur Asset Management LLC acquired a new position in shares of Pfizer during the fourth quarter worth about $32,000. Trivant Custom Portfolio Group LLC increased its stake in shares of Pfizer by 100.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 600 shares during the period. Finally, Financial Connections Group Inc. acquired a new stake in Pfizer in the second quarter valued at approximately $34,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Trading Down 0.8 %

PFE opened at $29.42 on Friday. The firm has a market cap of $166.71 billion, a price-to-earnings ratio of -490.25, a price-to-earnings-growth ratio of 1.05 and a beta of 0.68. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $34.11. The business’s 50 day moving average is $29.36 and its two-hundred day moving average is $28.24. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 EPS. On average, research analysts predict that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date was Friday, July 26th. Pfizer’s dividend payout ratio is currently -2,799.53%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PFE shares. Wells Fargo & Company boosted their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. UBS Group boosted their target price on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.54.

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.