Cadence Bank NA reduced its position in Pfizer Inc. (NYSE: PFE – Get a rating) by 4.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 77,302 shares of the biopharmaceutical company’s stock after selling 3,626 shares during the quarter. Pfizer accounts for about 1.3% of Cadence Bank NA, making the stock its 16th biggest holding. Cadence Bank NA’s holdings in Pfizer were worth $4,053,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PFE. Financial Futures Ltd Liability Co. acquired a new stake in shares of Pfizer in the second quarter valued at $249,000. Courier Capital LLC boosted its stake in Pfizer by 1.4% in the 2nd quarter. Courier Capital LLC now owns 126,531 shares of the biopharmaceutical company’s stock valued at $6,634,000 after acquiring an additional 1,756 shares in the last quarter. Trilogy Capital Inc. acquired a new stake in Pfizer during the 2nd quarter worth about $218,000. Exeter Financial LLC grew its stake in Pfizer by 0.9% during the 2nd quarter. Exeter Financial LLC now owns 36,637 shares of the biopharmaceutical company’s stock valued at $1,921,000 after buying an additional 314 shares in the last quarter. Finally, Wealthfront Advisers LLC raised its stake in shares of Pfizer by 44.2% in the 2nd quarter. Wealthfront Advisers LLC now owns 609,978 shares of the biopharmaceutical company’s stock valued at $31,981,000 after buying an additional 187,053 shares during the period. Institutional investors and hedge funds own 67.90% of the company’s shares.
Changes in analysts’ ratings
PFE has been the subject of several research reports. Barclays set a $50.00 target price on shares of Pfizer in a report on Thursday, September 1st. Morgan Stanley cut their price objective on shares of Pfizer from $52 to $49 and set an “equal weight” rating in a report on Friday, July 8th. UBS Group set a $59.00 target price on Pfizer in a report on Thursday, September 1st. Berenberg Bank set a $44.00 target price on Pfizer in a research report on Wednesday, September 14th. Finally, SVB Leerink cut their price objective on Pfizer from $55.00 to $53.00 and set a “market perform” rating for the company in a report on Friday, July 29th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Pfizer has a consensus rating of “Moderate Buy” and an average target price of $57.00, according to MarketBeat.com.
Pfizer stock performance
NYSE: PFE opened at $43.76 on Friday. The company has a market cap of $245.60 billion, a PE ratio of 8.56, a PEG ratio of 0.54 and a beta of 0.70. Pfizer Inc. has a 1 year low of $40.94 and a 1 year high of $61.71. The company has a current ratio of 1.42, a gearing ratio of 1.20 and a debt-to-equity ratio of 0.39. The fifty day simple moving average is $47.54 and the 200 day simple moving average is $50.06.
Pfizer (NYSE: PFE – Get a rating) last published its quarterly earnings results on Thursday, July 28th. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.29. Pfizer’s return on equity was 43.18% and its net margin was 28.92%. The company had revenue of $27.74 billion for the quarter, compared to the consensus estimate of $26.20 billion. During the same period last year, the business posted $1.07 earnings per share. The company’s revenue grew by 46.8% compared to the same quarter last year. On average, sell-side analysts expect that Pfizer Inc. will post 6.54 earnings per share for the current year.
Pfizer’s dividend announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 5th. Shareholders of record on Friday, November 4th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 3rd. This amounts to $1.60 in annualized dividends and a dividend yield of 3.66%. Pfizer’s dividend payout ratio (DPR) is currently 31.31%.
Pfizer Inc discovers, develops, manufactures, markets, distributes and markets biopharmaceutical products worldwide. It offers drugs and vaccines in a variety of therapeutic areas, including cardiovascular and women’s health under the Premarin family and Eliquis brands; biologics, small molecules, immunotherapy and biosimilars under the brands Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena and Braftovi; and sterile injectable and anti-infective drugs, as well as oral treatment for COVID-19 under the brand names Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga and Paxlovid.
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https://www.defenseworld.net/2022/10/02/pfizer-inc-nysepfe-stock-holdings-decreased-by-cadence-bank-na.html (NYSE:PFE) shares of Pfizer Inc. Cadence Bank NA declined