Pfizer Inc. (NYSE:PFE) Stock Position Reduced by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp trimmed its position in Pfizer Inc. (NYSE:PFE) by 1.5% in the first quarter, Holdings Channel.com reports. The fund owned 74,248 shares of the biopharmaceutical company’s stock after selling 1,156 shares during the period. Atlantic Union Bankshares Corp’s holdings in Pfizer were worth $1,881,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PFE. WNY Asset Management LLC lifted its holdings in Pfizer by 29.2% in the first quarter. WNY Asset Management LLC now owns 38,353 shares of the biopharmaceutical company’s stock worth $972,000 after acquiring an additional 8,667 shares during the last quarter. OneAscent Financial Services LLC grew its stake in Pfizer by 112.1% during the 1st quarter. OneAscent Financial Services LLC now owns 78,480 shares of the biopharmaceutical company’s stock worth $1,948,000 after buying an additional 41,481 shares during the last quarter. Elyxium Wealth LLC increased its position in Pfizer by 108.6% in the first quarter. Elyxium Wealth LLC now owns 25,246 shares of the biopharmaceutical company’s stock worth $640,000 after buying an additional 13,144 shares during the period. Berkeley Capital Partners LLC lifted its stake in Pfizer by 4.1% in the first quarter. Berkeley Capital Partners LLC now owns 72,044 shares of the biopharmaceutical company’s stock valued at $1,826,000 after buying an additional 2,854 shares during the last quarter. Finally, Calton & Associates Inc. lifted its stake in Pfizer by 137.4% in the first quarter. Calton & Associates Inc. now owns 29,634 shares of the biopharmaceutical company’s stock valued at $751,000 after buying an additional 17,151 shares during the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Bank of America boosted their target price on shares of Pfizer from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. TD Cowen decreased their price objective on Pfizer from $32.00 to $28.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. UBS Group lifted their target price on Pfizer from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. Redburn Atlantic reduced their price objective on shares of Pfizer from $29.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, April 30th. Finally, Wolfe Research raised their target price on shares of Pfizer from $22.00 to $23.00 and gave the company an “underperform” rating in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.55.

Pfizer Price Performance

NYSE PFE opened at $24.46 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $139.06 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 0.89 and a beta of 0.58. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $31.54. The company has a 50 day moving average price of $24.07 and a two-hundred day moving average price of $24.71.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.25. The company had revenue of $13.72 billion for the quarter, compared to analyst estimates of $14.43 billion. Pfizer had a net margin of 12.62% and a return on equity of 20.33%. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.82 earnings per share. As a group, equities analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be paid a $0.43 dividend. The ex-dividend date is Friday, July 25th. This represents a $1.72 annualized dividend and a dividend yield of 7.03%. Pfizer’s payout ratio is 124.64%.

About Pfizer

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.