Piscataqua Savings Bank Trims Holdings in Pfizer Inc. (NYSE:PFE)

Piscataqua Savings Bank reduced its stake in Pfizer Inc. (NYSE:PFE) by 2.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,902 shares of the biopharmaceutical company’s stock after selling 659 shares during the quarter. Piscataqua Savings Bank’s holdings in Pfizer were worth $634,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Marshall Wace LLP grew its holdings in shares of Pfizer by 279.3% in the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after purchasing an additional 8,378,173 shares during the period. Swedbank AB purchased a new stake in shares of Pfizer in the 1st quarter valued at approximately $172,902,000. Pzena Investment Management LLC grew its stake in shares of Pfizer by 181.6% in the 1st quarter. Pzena Investment Management LLC now owns 7,670,445 shares of the biopharmaceutical company’s stock valued at $212,855,000 after buying an additional 4,947,000 shares during the period. Van ECK Associates Corp increased its holdings in shares of Pfizer by 21.8% during the 1st quarter. Van ECK Associates Corp now owns 15,813,328 shares of the biopharmaceutical company’s stock worth $438,820,000 after buying an additional 2,829,178 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in shares of Pfizer by 24,961.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,497,886 shares of the biopharmaceutical company’s stock valued at $69,891,000 after buying an additional 2,487,919 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PFE shares. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company increased their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group upped their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research report on Thursday, October 3rd. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Stock Performance

Shares of Pfizer stock opened at $29.46 on Wednesday. The business has a 50-day simple moving average of $29.02 and a 200-day simple moving average of $28.41. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. Pfizer Inc. has a one year low of $25.20 and a one year high of $33.92. The company has a market cap of $166.94 billion, a PE ratio of -491.00, a P/E/G ratio of 1.30 and a beta of 0.67.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate 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 company had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter in the previous year, the business posted $0.67 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is presently -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.