SouthState Corp Reduces Position in Pfizer Inc. (NYSE:PFE)

SouthState Corp reduced its position in shares of Pfizer Inc. (NYSE:PFE) by 30.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,916 shares of the biopharmaceutical company’s stock after selling 23,943 shares during the period. SouthState Corp’s holdings in Pfizer were worth $1,610,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Briaud Financial Planning Inc purchased a new position in shares of Pfizer in the 3rd quarter valued at about $30,000. GoalVest Advisory LLC increased its stake in Pfizer by 304.9% in the fourth quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 811 shares during the last quarter. Mizuho Securities Co. Ltd. acquired a new stake in Pfizer during the third quarter worth approximately $34,000. VisionPoint Advisory Group LLC lifted its position in shares of Pfizer by 52,350.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,049 shares of the biopharmaceutical company’s stock worth $35,000 after buying an additional 1,047 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of Pfizer in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Performance

Shares of NYSE:PFE traded up $0.11 during midday trading on Friday, hitting $27.81. The stock had a trading volume of 45,367,553 shares, compared to its average volume of 43,148,504. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $40.37. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average price of $26.88 and a two-hundred day moving average price of $28.25. The company has a market capitalization of $157.48 billion, a PE ratio of -463.42, a P/E/G ratio of 1.20 and a beta of 0.63.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The company had revenue of $14.88 billion for the quarter, compared to analyst estimates of $13.87 billion. Pfizer had a positive return on equity of 8.58% and a negative net margin of 0.56%. The firm’s revenue for the quarter was down 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.23 EPS. As a group, equities analysts predict that Pfizer Inc. will post 2.28 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 10th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date of this dividend is Thursday, May 9th. Pfizer’s dividend payout ratio (DPR) is currently -2,799.53%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PFE. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Monday, April 15th. BMO Capital Markets reissued an “outperform” rating and issued a $36.00 target price (up from $33.00) on shares of Pfizer in a report on Thursday. TD Cowen cut Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 target price for the company. in a research report on Thursday, January 4th. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, Morgan Stanley boosted their price objective on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $36.00.

Pfizer 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.