Pfizer Inc. (NYSE:PFE) Position Reduced by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC lowered its stake in Pfizer Inc. (NYSE:PFE) by 4.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 61,510 shares of the biopharmaceutical company’s stock after selling 2,555 shares during the period. Plimoth Trust Co. LLC’s holdings in Pfizer were worth $1,780,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Olistico Wealth LLC bought a new position in Pfizer during the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC bought a new position in Pfizer during the second quarter worth $29,000. Quarry LP bought a new position in shares of Pfizer in the 2nd quarter worth about $31,000. Trivant Custom Portfolio Group LLC boosted its holdings in shares of Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after buying an additional 600 shares during the period. Finally, Financial Connections Group Inc. bought a new stake in shares of Pfizer during the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of NYSE PFE traded down $0.29 during trading on Monday, hitting $28.93. The company had a trading volume of 22,248,629 shares, compared to its average volume of 37,033,934. The company has a market cap of $163.93 billion, a P/E ratio of -483.67, a PEG ratio of 1.02 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The business’s 50-day moving average is $29.07 and its 200 day moving average is $28.45. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $31.54.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. Pfizer’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $0.67 EPS. Equities research analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current fiscal 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 annualized dividend and a yield of 5.81%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio is currently -2,800.00%.

Analyst Ratings Changes

A number of brokerages have commented on PFE. Wells Fargo & Company lifted their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Sanford C. Bernstein started coverage on Pfizer in a research report on Thursday. They issued a “market perform” rating and a $32.00 target price on the stock. UBS Group upped their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Pfizer has an average rating of “Moderate Buy” and an average target price of $33.91.

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.