Synovus Financial Corp Acquires 78,675 Shares of Pfizer Inc. (NYSE:PFE)

Synovus Financial Corp raised its stake in shares of Pfizer Inc. (NYSE:PFE) by 11.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 740,727 shares of the biopharmaceutical company’s stock after purchasing an additional 78,675 shares during the period. Synovus Financial Corp’s holdings in Pfizer were worth $21,437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of PFE. AlphaMark Advisors LLC lifted its holdings in Pfizer by 61.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 1,703 shares of the biopharmaceutical company’s stock valued at $48,000 after buying an additional 650 shares in the last quarter. Silver Lake Advisory LLC bought a new stake in Pfizer during the 2nd quarter valued at $208,000. Blue Trust Inc. lifted its holdings in shares of Pfizer by 11.3% in the 2nd quarter. Blue Trust Inc. now owns 50,457 shares of the biopharmaceutical company’s stock worth $1,400,000 after buying an additional 5,136 shares during the period. Stanley Laman Group Ltd. grew its position in shares of Pfizer by 4.0% during the 2nd quarter. Stanley Laman Group Ltd. now owns 52,430 shares of the biopharmaceutical company’s stock worth $1,467,000 after buying an additional 2,000 shares in the last quarter. Finally, Rovin Capital UT ADV increased its stake in shares of Pfizer by 18.6% during the second quarter. Rovin Capital UT ADV now owns 23,322 shares of the biopharmaceutical company’s stock valued at $653,000 after buying an additional 3,652 shares during the period. 68.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on PFE shares. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Bank of America reissued a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a research note on Tuesday. Wolfe Research began coverage on Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target on the stock. Sanford C. Bernstein started coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $32.43.

Pfizer Price Performance

Shares of PFE opened at $25.37 on Friday. The company has a market capitalization of $143.77 billion, a P/E ratio of 34.28, a P/E/G ratio of 0.63 and a beta of 0.65. The business’s 50-day moving average is $27.23 and its two-hundred day moving average is $28.29. 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 released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same quarter in the prior year, the firm posted ($0.17) EPS. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. Research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be given a dividend of $0.43 per share. This is a boost from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.78%. Pfizer’s dividend payout ratio (DPR) is 227.03%.

Insider Activity at Pfizer

In related news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was bought at an average price of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $282,400. The trade was a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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.