Webster Bank N. A. Sells 5,337 Shares of Pfizer Inc. (NYSE:PFE)

Webster Bank N. A. reduced its holdings in Pfizer Inc. (NYSE:PFE) by 8.0% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,782 shares of the biopharmaceutical company’s stock after selling 5,337 shares during the quarter. Webster Bank N. A.’s holdings in Pfizer were worth $1,714,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. New England Research & Management Inc. increased its stake in Pfizer by 10.0% in the 1st quarter. New England Research & Management Inc. now owns 80,269 shares of the biopharmaceutical company’s stock worth $2,227,000 after acquiring an additional 7,319 shares during the last quarter. Financial Management Professionals Inc. increased its position in shares of Pfizer by 11.7% during the 1st quarter. Financial Management Professionals Inc. now owns 19,089 shares of the biopharmaceutical company’s stock valued at $530,000 after purchasing an additional 2,000 shares during the last quarter. Kathmere Capital Management LLC bought a new position in shares of Pfizer during the 1st quarter valued at about $203,000. Sawyer & Company Inc increased its position in shares of Pfizer by 2.4% during the 1st quarter. Sawyer & Company Inc now owns 20,824 shares of the biopharmaceutical company’s stock valued at $578,000 after purchasing an additional 485 shares during the last quarter. Finally, AMF Tjanstepension AB increased its position in shares of Pfizer by 389.2% during the 1st quarter. AMF Tjanstepension AB now owns 1,225,479 shares of the biopharmaceutical company’s stock valued at $34,023,000 after purchasing an additional 974,967 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PFE. Morgan Stanley increased their price objective on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. BMO Capital Markets reiterated an “outperform” rating and set a $36.00 price objective (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pfizer presently has a consensus rating of “Hold” and a consensus target price of $35.86.

Pfizer Trading Up 0.6 %

NYSE PFE traded up $0.18 on Friday, hitting $27.98. The company’s stock had a trading volume of 33,189,215 shares, compared to its average volume of 34,031,364. The firm has a market cap of $158.55 billion, a P/E ratio of -466.42, a PEG ratio of 1.09 and a beta of 0.70. The company has a current ratio of 1.05, a quick ratio of 0.78 and a debt-to-equity ratio of 0.66. The company’s 50-day simple moving average is $27.90 and its 200 day simple moving average is $27.69. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $37.80.

Pfizer (NYSE:PFE) last released its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The company had revenue of $14.88 billion during the quarter, compared to analysts’ expectations of $13.87 billion. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The firm’s revenue for the quarter was down 19.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.23 EPS. Research analysts predict that Pfizer Inc. will post 2.38 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, July 26th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date is Thursday, July 25th. Pfizer’s payout ratio 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.