Cullen Frost Bankers Inc. Reduces Stake in Pfizer Inc.

Cullen Frost Bankers Inc. has reduced its stake in Pfizer Inc. (NYSE:PFE) by 7.8% during the fourth quarter, as reported in a recent filing with the Securities and Exchange Commission. After selling 32,655 shares, the fund now holds 386,855 shares of the biopharmaceutical company, with a total value of approximately $10,263,000 at the end of this reporting period.

In addition to Cullen Frost, several large investors have recently adjusted their positions in Pfizer. Retirement Wealth Solutions LLC bought a new stake worth about $26,000 in the fourth quarter. Similarly, Kohmann Bosshard Financial Services LLC acquired around $28,000 in Pfizer shares during the same quarter. Gladius Capital Management LP notably increased its holdings by 102.8% in the third quarter, accumulating 1,043 shares valued at $30,000 after purchasing an additional 38,015 shares. Other notable acquisitions include Noble Wealth Management PBC with a stake worth approximately $31,000 and Sierra Ocean LLC, which invested about $34,000 in new shares. Currently, 68.36% of Pfizer's stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Insights

Pfizer stock has recently received various ratings from analysts. Citigroup lowered its price target for Pfizer from $30.00 to $29.00, maintaining a "neutral" rating. Truist Financial also adjusted their price goal down from $36.00 to $32.00, while keeping a "buy" rating. UBS Group set a new price target of $29.00, and Wolfe Research began coverage with an "underperform" rating at $25.00. Bank of America reaffirmed a "neutral" rating with a target of $29.00. Overall, one analyst has rated the stock as a sell, eight have given it a hold rating, six are bullish with buy ratings, and two have issued strong buy ratings. According to MarketBeat's data, Pfizer has a consensus rating of "Moderate Buy" with a target price averaging $31.92.

Insider Activity at Pfizer

Recent insider actions at Pfizer reveal that Director Ronald E. Blaylock purchased 19,457 shares on February 13 at an average price of $25.65 per share. This transaction was valued at $499,072.05, increasing his total holdings to 27,707 shares worth $710,684.55. This purchase signifies a 235.84% increase in his position. Currently, 0.06% of Pfizer's stock is controlled by corporate insiders.

Performance of Pfizer Stock

As of Friday, Pfizer shares opened at $26.21. The company maintains a debt-to-equity ratio of 0.63, a quick ratio of 0.73, and a current ratio of 1.00. Pfizer holds a market capitalization of $148.50 billion, with a price-to-earnings ratio of 18.59 and a price-to-earnings-growth ratio of 0.64, alongside a beta of 0.64. The stock has ranged from a 1-year low of $24.48 to a high of $31.54.

On February 4, Pfizer reported quarterly earnings showing an EPS of $0.63, exceeding analyst estimates of $0.48 by $0.15. The firm achieved a revenue of $17.76 billion against expected figures of $17.26 billion, reflecting a 24.7% increase from the prior year.

Dividend Announcement from Pfizer

Recently, Pfizer declared a quarterly dividend set to be paid on March 7. Shareholders of record on January 24 will receive a dividend of $0.43 per share, amounting to an annualized dividend of $1.72, representing a yield of 6.56%. This dividend reflects an increase from the previous quarter's dividend of $0.42. The company's dividend payout ratio stands at 121.99%.

Overview of Pfizer Inc.

Pfizer Inc. focuses on discovering, developing, and selling biopharmaceutical products both domestically and internationally. The company offers a wide range of medicines and vaccines catering to areas such as cardiovascular health, migraines, women's health, infectious diseases, and COVID-19. Some of their notable brand names include Eliquis, Prevnar, Comirnaty, and Paxlovid.

Pfizer, Investors, Dividends