Fruth Investment Management Trims Stake in Pfizer Inc. (NYSE:PFE)

Fruth Investment Management reduced its position in Pfizer Inc. (NYSE:PFE) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,098 shares of the biopharmaceutical company’s stock after selling 500 shares during the quarter. Fruth Investment Management’s holdings in Pfizer were worth $842,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PFE. FAS Wealth Partners Inc. increased its position in shares of Pfizer by 1.3% during the second quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock worth $736,000 after acquiring an additional 342 shares during the period. Sachetta LLC increased its position in shares of Pfizer by 7.3% during the second quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after acquiring an additional 342 shares during the period. Ironvine Capital Partners LLC increased its position in shares of Pfizer by 2.1% during the first quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock worth $470,000 after acquiring an additional 353 shares during the period. Secure Asset Management LLC increased its position in shares of Pfizer by 0.6% during the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock worth $1,632,000 after acquiring an additional 353 shares during the period. Finally, Patrick M Sweeney & Associates Inc. increased its position in shares of Pfizer by 0.8% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock worth $1,180,000 after acquiring an additional 355 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Price Performance

Shares of PFE opened at $29.08 on Tuesday. The company has a market cap of $164.78 billion, a price-to-earnings ratio of -484.67, a price-to-earnings-growth ratio of 1.30 and a beta of 0.67. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $33.92. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. The company has a 50 day moving average of $29.02 and a two-hundred day moving average of $28.40.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. The company had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. Pfizer’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $0.67 earnings per share. As a group, analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 5.78%. Pfizer’s payout ratio is currently -2,800.00%.

Analysts Set New Price Targets

PFE has been the topic of a number of research reports. Wells Fargo & Company raised their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. UBS Group raised their target price on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Thursday, October 3rd. Finally, Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.54.

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.