First National Trust Co Reduces Position in Pfizer Inc. (NYSE:PFE)

First National Trust Co lowered its holdings in Pfizer Inc. (NYSE:PFE) by 5.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,056 shares of the biopharmaceutical company’s stock after selling 4,545 shares during the period. First National Trust Co’s holdings in Pfizer were worth $2,201,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Addison Advisors LLC grew its position in shares of Pfizer by 394.2% in the third quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock valued at $1,512,000 after purchasing an additional 41,668 shares in the last quarter. LGT Group Foundation grew its holdings in Pfizer by 2.5% during the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock valued at $20,786,000 after buying an additional 18,274 shares in the last quarter. Radnor Capital Management LLC bought a new stake in shares of Pfizer during the third quarter valued at about $2,972,000. Kornitzer Capital Management Inc. KS lifted its holdings in shares of Pfizer by 2.4% in the third quarter. Kornitzer Capital Management Inc. KS now owns 1,168,315 shares of the biopharmaceutical company’s stock worth $33,811,000 after buying an additional 27,562 shares in the last quarter. Finally, Costello Asset Management INC boosted its position in shares of Pfizer by 461.9% in the third quarter. Costello Asset Management INC now owns 56,925 shares of the biopharmaceutical company’s stock valued at $1,647,000 after acquiring an additional 46,795 shares during the period. 68.36% of the stock is owned by institutional investors.

Pfizer Trading Down 0.2 %

PFE opened at $26.18 on Wednesday. Pfizer Inc. has a one year low of $25.20 and a one year high of $31.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The business has a 50 day simple moving average of $28.84 and a two-hundred day simple moving average of $28.67. The firm has a market capitalization of $148.36 billion, a price-to-earnings ratio of 35.38, a PEG ratio of 0.83 and a beta of 0.67.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same quarter in the previous year, the business posted ($0.17) earnings per share. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. Analysts predict that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 6.42%. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company boosted their target price on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Sanford C. Bernstein assumed coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. StockNews.com raised shares of Pfizer from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Citigroup started coverage on shares of Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $33.58.

Insiders Place Their Bets

In other news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.06% of the company’s stock.

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.