Atlantic Union Bankshares Corp Lowers Position in Pfizer Inc. (NYSE:PFE)

Atlantic Union Bankshares Corp trimmed its stake in shares of Pfizer Inc. (NYSE:PFE) by 2.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,168 shares of the biopharmaceutical company’s stock after selling 1,980 shares during the period. Atlantic Union Bankshares Corp’s holdings in Pfizer were worth $2,436,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PFE. Olistico Wealth LLC purchased a new stake in shares of Pfizer in the second quarter worth about $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Pfizer during the 2nd quarter worth approximately $29,000. Gladius Capital Management LP boosted its position in shares of Pfizer by 102.8% during the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 38,015 shares during the last quarter. Quarry LP purchased a new position in shares of Pfizer in the second quarter valued at $31,000. Finally, Financial Connections Group Inc. bought a new stake in Pfizer in the second quarter worth $34,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wolfe Research initiated coverage on shares of Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price on the stock. Sanford C. Bernstein initiated coverage on Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price for the company. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Finally, Citigroup assumed coverage on shares of Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 price target for the company. One investment 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.92.

Pfizer Price Performance

Shares of PFE stock opened at $26.21 on Friday. The company has a market capitalization of $148.53 billion, a P/E ratio of 35.42, a P/E/G ratio of 0.70 and a beta of 0.67. The company’s 50-day simple moving average is $27.83 and its two-hundred day simple moving average is $28.49. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73.

Pfizer (NYSE:PFE) last announced its quarterly earnings data 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. The company had revenue of $17.70 billion for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm earned ($0.17) earnings per share. As a group, equities analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 6.41%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Insiders Place Their Bets

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by company insiders.

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.