Cullen Frost Bankers Inc. Reduces Holdings in Pfizer Inc. (NYSE:PFE)

Cullen Frost Bankers Inc. trimmed its position in shares of Pfizer Inc. (NYSE:PFE) by 9.7% in the 4th quarter, Holdings Channel reports. The firm owned 543,052 shares of the biopharmaceutical company’s stock after selling 58,539 shares during the period. Cullen Frost Bankers Inc.’s holdings in Pfizer were worth $15,634,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Clifford Swan Investment Counsel LLC increased its position in shares of Pfizer by 4.7% during the fourth quarter. Clifford Swan Investment Counsel LLC now owns 417,070 shares of the biopharmaceutical company’s stock worth $12,007,000 after purchasing an additional 18,611 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in Pfizer by 40.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,739,672 shares of the biopharmaceutical company’s stock valued at $157,215,000 after buying an additional 1,365,295 shares in the last quarter. LifePlan Financial LLC purchased a new stake in Pfizer in the 4th quarter valued at $255,000. KLCM Advisors Inc. grew its holdings in Pfizer by 75.0% in the 4th quarter. KLCM Advisors Inc. now owns 173,793 shares of the biopharmaceutical company’s stock valued at $5,004,000 after buying an additional 74,487 shares in the last quarter. Finally, Farmers Trust Co. grew its holdings in Pfizer by 2.0% in the 4th quarter. Farmers Trust Co. now owns 225,881 shares of the biopharmaceutical company’s stock valued at $6,503,000 after buying an additional 4,410 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Stock Performance

NYSE:PFE traded up $0.50 during mid-day trading on Wednesday, reaching $28.28. 39,037,887 shares of the stock were exchanged, compared to its average volume of 43,541,762. The company has a 50 day simple moving average of $26.92 and a 200-day simple moving average of $28.12. The stock has a market capitalization of $160.11 billion, a P/E ratio of -471.17, a P/E/G ratio of 1.17 and a beta of 0.63. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $40.37.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. Pfizer had a positive return on equity of 8.58% and a negative net margin of 0.56%. The company had revenue of $14.88 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period last year, the firm earned $1.23 EPS. The firm’s revenue for the quarter was down 19.5% on a year-over-year basis. Analysts anticipate that Pfizer Inc. will post 2.39 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 10th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $1.68 annualized dividend and a dividend yield of 5.94%. Pfizer’s dividend payout ratio is currently -2,799.53%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PFE. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Monday, April 15th. Morgan Stanley upped their price target on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. BMO Capital Markets restated an “outperform” rating and set a $36.00 price target (up previously from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Argus downgraded Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Finally, Guggenheim assumed coverage on Pfizer in a report on Friday, February 23rd. They issued a “buy” rating and a $36.00 price objective on the stock. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $36.00.

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.