Argent Trust Co Sells 1,346 Shares of Pfizer Inc. (NYSE:PFE)

Argent Trust Co decreased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 227,467 shares of the biopharmaceutical company’s stock after selling 1,346 shares during the period. Argent Trust Co’s holdings in Pfizer were worth $6,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Olistico Wealth LLC bought a new stake in shares of Pfizer during the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Pfizer during the 2nd quarter valued at $29,000. Creekmur Asset Management LLC bought a new stake in shares of Pfizer during the 4th quarter valued at $32,000. Trivant Custom Portfolio Group LLC grew its position in shares of Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 600 shares during the period. Finally, Financial Connections Group Inc. bought a new stake in shares of Pfizer during the 2nd quarter valued at $34,000. Institutional investors own 68.36% of the company’s stock.

Pfizer Stock Down 0.8 %

Shares of PFE stock opened at $29.83 on Wednesday. The stock has a market cap of $169.04 billion, a P/E ratio of -497.08, a PEG ratio of 1.02 and a beta of 0.68. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $34.12. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The company’s fifty day simple moving average is $29.30 and its two-hundred day simple moving average is $28.18.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.14. The firm had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 EPS. Analysts predict that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.63%. The ex-dividend date was Friday, July 26th. Pfizer’s dividend payout ratio is -2,799.53%.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Monday. Barclays lifted their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and an average price target of $34.54.

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.