Culbertson A N & Co. Inc. Trims Stock Position in Pfizer Inc. (NYSE:PFE)

Culbertson A N & Co. Inc. decreased its position in Pfizer Inc. (NYSE:PFE) by 1.8% in the third quarter, Holdings Channel reports. The firm owned 21,785 shares of the biopharmaceutical company’s stock after selling 410 shares during the period. Culbertson A N & Co. Inc.’s holdings in Pfizer were worth $630,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PFE. Olistico Wealth LLC purchased a new stake in shares of Pfizer in the 2nd quarter worth $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Pfizer in the second quarter valued at about $29,000. Quarry LP purchased a new stake in Pfizer in the second quarter worth about $31,000. Trivant Custom Portfolio Group LLC grew its holdings in Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 600 shares in the last quarter. Finally, Financial Connections Group Inc. bought a new stake in shares of Pfizer in the 2nd quarter valued at about $34,000. Institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PFE shares. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research report on Thursday, October 3rd. Barclays raised their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Six 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $34.10.

Pfizer Stock Performance

PFE opened at $29.66 on Thursday. The firm’s 50-day moving average price is $29.04 and its 200-day moving average price is $28.42. The company has a market cap of $168.07 billion, a P/E ratio of -494.33, a price-to-earnings-growth ratio of 1.30 and a beta of 0.67. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $33.19.

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

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 5.66%. Pfizer’s dividend payout ratio is currently -2,800.00%.

Pfizer 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.