Cadence Bank Has $9.54 Million Stake in Pfizer Inc. (NYSE:PFE)

Cadence Bank lifted its holdings in shares of Pfizer Inc. (NYSE:PFE) by 19.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 329,693 shares of the biopharmaceutical company’s stock after purchasing an additional 54,490 shares during the period. Cadence Bank’s holdings in Pfizer were worth $9,541,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in Pfizer by 11.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after purchasing an additional 12,864,343 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Pfizer by 3.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after buying an additional 2,241,609 shares during the period. Swiss National Bank raised its stake in shares of Pfizer by 0.6% during the third quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock worth $486,762,000 after buying an additional 100,900 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Pfizer by 2.8% in the third quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company’s stock valued at $477,929,000 after buying an additional 456,168 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its stake in Pfizer by 4.1% in the third quarter. Diamond Hill Capital Management Inc. now owns 16,553,997 shares of the biopharmaceutical company’s stock valued at $479,073,000 after acquiring an additional 658,420 shares during the last quarter. 68.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

PFE has been the topic of a number of analyst reports. Citigroup assumed coverage on Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Finally, Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Pfizer presently has an average rating of “Moderate Buy” and a consensus target price of $32.92.

Pfizer Price Performance

PFE stock opened at $25.76 on Wednesday. The stock has a market cap of $145.98 billion, a PE ratio of 34.81, a price-to-earnings-growth ratio of 0.83 and a beta of 0.67. The stock has a 50-day moving average price of $28.05 and a two-hundred day moving average price of $28.54. Pfizer Inc. has a 1 year low of $24.48 and a 1 year high of $31.54. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same quarter last year, the firm earned ($0.17) EPS. Pfizer’s revenue for the quarter was up 31.2% compared to the same quarter last year. Equities analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is currently 227.03%.

Insider Buying and Selling at Pfizer

In related news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $282,400. This represents a 11.11 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

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.