Community Trust & Investment Co. Decreases Stake in Pfizer Inc. (NYSE:PFE)

Community Trust & Investment Co. cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 112,983 shares of the biopharmaceutical company’s stock after selling 815 shares during the period. Community Trust & Investment Co.’s holdings in Pfizer were worth $2,997,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PFE. Gladius Capital Management LP increased its position in Pfizer by 102.8% during the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 38,015 shares during the last quarter. Quarry LP acquired a new stake in shares of Pfizer during the 2nd quarter worth approximately $31,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Pfizer during the 3rd quarter valued at approximately $35,000. Joseph Group Capital Management lifted its holdings in Pfizer by 168.3% in the third quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 771 shares during the last quarter. Finally, Kennebec Savings Bank purchased a new position in Pfizer in the third quarter worth approximately $50,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Stock Performance

Shares of Pfizer stock opened at $26.41 on Wednesday. The firm’s 50 day moving average is $26.13 and its two-hundred day moving average is $28.03. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54. 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 firm has a market capitalization of $149.67 billion, a P/E ratio of 35.69, a P/E/G ratio of 0.63 and a beta of 0.64.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $14.92 billion. During the same quarter in the previous year, the company posted ($0.17) earnings per share. The firm’s revenue was up 31.2% compared to the same quarter last year. Research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Increases Dividend

The business also recently declared 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 is Friday, January 24th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.51%. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio (DPR) is currently 232.43%.

Insider Activity at Pfizer

In related news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were bought at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PFE has been the topic of a number of research analyst reports. Guggenheim reduced their target price on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Wolfe Research initiated coverage on shares of Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price on the stock. Bank of America reiterated a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. UBS Group reduced their price target on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, Citigroup assumed coverage on shares of Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.00.

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.