Truist Financial Corp Trims Stock Position in Pfizer Inc. (NYSE:PFE)

Truist Financial Corp reduced its stake in Pfizer Inc. (NYSE:PFE) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,442,552 shares of the biopharmaceutical company’s stock after selling 119,445 shares during the quarter. Truist Financial Corp owned 0.06% of Pfizer worth $96,323,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Olistico Wealth LLC acquired a new position in Pfizer in the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Pfizer in the second quarter valued at about $29,000. Quarry LP acquired a new position in shares of Pfizer during the second quarter worth about $31,000. Creekmur Asset Management LLC purchased a new position in Pfizer during the fourth quarter worth about $32,000. Finally, Trivant Custom Portfolio Group LLC lifted its position in Pfizer by 100.0% in the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Wells Fargo & Company upped their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. StockNews.com downgraded Pfizer from a “buy” rating to a “hold” rating in a report on Tuesday. Barclays upped their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research note on Monday, September 16th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Down 0.9 %

PFE stock opened at $28.67 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The company’s 50 day simple moving average is $29.28 and its 200-day simple moving average is $28.31. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $34.11. The firm has a market capitalization of $162.46 billion, a PE ratio of -477.83, a P/E/G ratio of 1.27 and a beta of 0.68.

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. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. Pfizer’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

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.