SouthState Corp Sells 4,059 Shares of Pfizer Inc. (NYSE:PFE)

SouthState Corp lowered its position in Pfizer Inc. (NYSE:PFE) by 9.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,925 shares of the biopharmaceutical company’s stock after selling 4,059 shares during the quarter. SouthState Corp’s holdings in Pfizer were worth $1,033,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PFE. Olistico Wealth LLC acquired a new stake in Pfizer during the second quarter worth $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Pfizer during the 2nd quarter valued at about $29,000. Creekmur Asset Management LLC acquired a new stake in shares of Pfizer during the 4th quarter valued at about $32,000. Trivant Custom Portfolio Group LLC increased its stake in Pfizer by 100.0% in the first 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. acquired a new position in Pfizer in the second quarter worth about $34,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Upgrades and Downgrades

PFE has been the topic of a number of recent research reports. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Wells Fargo & Company upped their price target on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. UBS Group boosted their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Monday, August 19th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Trading Up 0.4 %

PFE opened at $28.51 on Friday. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $35.28. The stock has a market capitalization of $161.55 billion, a PE ratio of -475.09, a PEG ratio of 1.02 and a beta of 0.68. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average price of $29.05 and a two-hundred day moving average price of $28.04.

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

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, July 26th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date of this dividend was Friday, July 26th. Pfizer’s dividend payout ratio (DPR) is -2,799.53%.

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.