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

Cadence Bank raised its position in Pfizer Inc. (NYSE:PFE) by 19.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 329,693 shares of the biopharmaceutical company’s stock after buying an additional 54,490 shares during the quarter. Cadence Bank’s holdings in Pfizer were worth $9,541,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PFE. Charles Schwab Investment Management Inc. boosted its stake in shares of Pfizer by 11.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock valued at $3,766,366,000 after buying an additional 12,864,343 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings 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 acquiring an additional 2,241,609 shares during the period. Swiss National Bank raised its holdings in shares of Pfizer by 0.6% during the 3rd 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 in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Pfizer by 2.8% in the third quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company’s stock worth $477,929,000 after acquiring an additional 456,168 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its holdings in shares of Pfizer by 4.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 16,553,997 shares of the biopharmaceutical company’s stock worth $479,073,000 after buying an additional 658,420 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of NYSE:PFE opened at $25.76 on Wednesday. The company has a market capitalization of $145.98 billion, a P/E ratio of 34.81, a price-to-earnings-growth ratio of 0.83 and a beta of 0.67. The company’s 50-day moving average is $28.05 and its 200 day moving average is $28.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. Pfizer Inc. has a fifty-two week low of $24.48 and a fifty-two week high of $31.54.

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

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.52%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is currently 227.03%.

Insider Activity at Pfizer

In other news, Director Scott Gottlieb acquired 1,000 shares of Pfizer stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PFE. Barclays boosted their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Wolfe Research assumed coverage on shares of Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective for the company. Sanford C. Bernstein started coverage on shares of Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective on the stock. Finally, Wells Fargo & Company upped their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and a consensus price target of $32.92.

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.