OLD National Bancorp IN Sells 47,516 Shares of Pfizer Inc. (NYSE:PFE)

OLD National Bancorp IN cut its holdings in Pfizer Inc. (NYSE:PFE) by 13.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 299,392 shares of the biopharmaceutical company’s stock after selling 47,516 shares during the quarter. OLD National Bancorp IN’s holdings in Pfizer were worth $7,943,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. AQR Capital Management LLC raised its stake in Pfizer by 1.6% during the 2nd quarter. AQR Capital Management LLC now owns 612,429 shares of the biopharmaceutical company’s stock valued at $17,068,000 after buying an additional 9,435 shares during the last quarter. Quarry LP purchased a new stake in Pfizer during the 2nd quarter valued at $31,000. Dana Investment Advisors Inc. raised its stake in Pfizer by 9.6% during the 2nd quarter. Dana Investment Advisors Inc. now owns 100,181 shares of the biopharmaceutical company’s stock valued at $2,803,000 after buying an additional 8,771 shares during the last quarter. Souders Financial Advisors raised its stake in Pfizer by 6.1% during the 2nd quarter. Souders Financial Advisors now owns 8,347 shares of the biopharmaceutical company’s stock valued at $234,000 after buying an additional 483 shares during the last quarter. Finally, Birmingham Capital Management Co. Inc. AL raised its stake in Pfizer by 0.9% during the 2nd quarter. Birmingham Capital Management Co. Inc. AL now owns 181,763 shares of the biopharmaceutical company’s stock valued at $5,086,000 after buying an additional 1,559 shares during the last quarter. 68.36% of the stock is owned by institutional investors.

Pfizer Price Performance

NYSE:PFE opened at $26.65 on Thursday. 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 business’s 50-day simple moving average is $26.18 and its two-hundred day simple moving average is $27.91. The stock has a market cap of $151.00 billion, a PE ratio of 36.01, a P/E/G ratio of 0.64 and a beta of 0.64. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same period in the previous year, the firm posted ($0.17) earnings per share. The business’s revenue was up 31.2% compared to the same quarter last year. As a group, analysts forecast that Pfizer Inc. will post 2.94 EPS for the current fiscal year.

Pfizer Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 6.46%. This is a boost from Pfizer’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, January 24th. Pfizer’s payout ratio is 227.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PFE shares. Truist Financial decreased their target price on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Evercore ISI raised Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Wednesday, October 23rd. Wolfe Research began coverage on Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price on the stock. Finally, Guggenheim decreased their target price on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.92.

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.