Trust Co of Kansas Sells 4,579 Shares of Pfizer Inc. (NYSE:PFE)

Trust Co of Kansas cut its position in shares of Pfizer Inc. (NYSE:PFE) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 195,776 shares of the biopharmaceutical company’s stock after selling 4,579 shares during the quarter. Pfizer comprises 2.5% of Trust Co of Kansas’ investment portfolio, making the stock its 19th biggest holding. Trust Co of Kansas’ holdings in Pfizer were worth $5,194,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of Pfizer by 1.2% in the 3rd quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock worth $8,405,930,000 after acquiring an additional 3,405,539 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Pfizer by 11.0% during 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 purchasing an additional 12,864,343 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Pfizer by 1.6% during the third quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock valued at $3,392,342,000 after purchasing an additional 1,855,419 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Pfizer by 22.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock worth $1,101,713,000 after purchasing an additional 6,977,587 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of Pfizer by 0.6% in 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 during the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Trading Down 0.7 %

Pfizer stock opened at $26.30 on Friday. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54. The company has a market cap of $149.06 billion, a P/E ratio of 35.55, a P/E/G ratio of 0.64 and a beta of 0.64. 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 has a 50-day simple moving average of $26.09 and a two-hundred day simple moving average of $28.00.

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

Pfizer Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 6.54%. The ex-dividend date is Friday, January 24th. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s payout ratio is currently 227.03%.

Insiders Place Their Bets

In other news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the acquisition, the director now directly 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 acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PFE. Truist Financial lowered their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. 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 target on the stock. UBS Group reduced their price objective on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Sanford C. Bernstein initiated coverage on shares of Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price on the stock. Finally, Guggenheim reduced their price target on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Pfizer has an average rating of “Moderate Buy” and an average target price of $32.00.

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.