Adirondack Trust Co. Sells 12,187 Shares of Pfizer Inc. (NYSE:PFE)

Adirondack Trust Co. lessened its holdings in Pfizer Inc. (NYSE:PFE) by 22.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,805 shares of the biopharmaceutical company’s stock after selling 12,187 shares during the quarter. Adirondack Trust Co.’s holdings in Pfizer were worth $1,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in PFE. Wescott Financial Advisory Group LLC bought a new position in Pfizer during the second quarter valued at $224,000. Fred Alger Management LLC grew its stake in shares of Pfizer by 6.6% during the 2nd quarter. Fred Alger Management LLC now owns 95,592 shares of the biopharmaceutical company’s stock worth $2,675,000 after acquiring an additional 5,932 shares during the period. Point72 Europe London LLP purchased a new stake in Pfizer in the 2nd quarter worth about $3,698,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Pfizer in the 2nd quarter valued at about $3,452,000. Finally, Caxton Associates LP purchased a new stake in Pfizer during the second quarter valued at about $738,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Trading Down 2.4 %

NYSE PFE opened at $26.01 on Thursday. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The stock’s 50-day simple moving average is $26.07 and its two-hundred day simple moving average is $27.96. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. The company has a market capitalization of $147.40 billion, a price-to-earnings ratio of 35.15, a PEG ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same period last year, the firm posted ($0.17) EPS. Pfizer’s revenue for the quarter was up 31.2% compared to the same quarter last year. Research analysts forecast that Pfizer Inc. will post 2.94 EPS for the current fiscal year.

Pfizer Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, January 24th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.72 annualized dividend and a dividend yield of 6.61%. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio (DPR) is currently 227.03%.

Insider Buying and Selling

In related news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the transaction, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PFE. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. UBS Group cut their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Wolfe Research initiated coverage on Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price target for the company. Bank of America restated a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. Finally, Guggenheim decreased their price target on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

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.