Montecito Bank & Trust Sells 3,583 Shares of Pfizer Inc. (NYSE:PFE)

Montecito Bank & Trust trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 8.6% during the 1st quarter, Holdings Channel reports. The fund owned 37,939 shares of the biopharmaceutical company’s stock after selling 3,583 shares during the period. Montecito Bank & Trust’s holdings in Pfizer were worth $961,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC bought a new position in Pfizer during the 4th quarter worth about $26,000. Clarity Asset Management Inc. purchased a new stake in shares of Pfizer during the fourth quarter valued at about $27,000. Gould Capital LLC lifted its position in shares of Pfizer by 97.2% during the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 493 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Pfizer during the fourth quarter valued at about $28,000. Finally, Bernard Wealth Management Corp. purchased a new stake in shares of Pfizer during the fourth quarter valued at about $30,000. 68.36% of the stock is currently owned by institutional investors.

Pfizer Stock Performance

Shares of Pfizer stock opened at $24.51 on Monday. The firm has a market capitalization of $139.35 billion, a P/E ratio of 17.38, a PEG ratio of 0.64 and a beta of 0.57. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average price of $23.06 and a 200 day moving average price of $24.95. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $31.54.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The firm had revenue of $13.72 billion during the quarter, compared to analyst estimates of $14.43 billion. During the same period last year, the firm posted $0.82 EPS. Pfizer’s revenue was down 7.8% on a year-over-year basis. Sell-side analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 9th were issued a $0.43 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.72 annualized dividend and a yield of 7.02%. Pfizer’s dividend payout ratio (DPR) is presently 124.64%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. The Goldman Sachs Group reissued a “neutral” rating and set a $25.00 price target (down from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. UBS Group increased their price target on shares of Pfizer from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Cantor Fitzgerald assumed coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They set a “neutral” rating and a $24.00 price target for the company. Finally, Citigroup reissued a “neutral” rating on shares of Pfizer in a research report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $29.17.

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.