Hartford Investment Management Co. Trims Position in Pfizer Inc. (NYSE:PFE)

Hartford Investment Management Co. lowered its stake in Pfizer Inc. (NYSE:PFE) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 356,285 shares of the biopharmaceutical company’s stock after selling 6,567 shares during the period. Hartford Investment Management Co.’s holdings in Pfizer were worth $10,311,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. LGT Group Foundation boosted its position 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 acquiring an additional 18,274 shares in the last quarter. Creative Planning grew its stake in Pfizer by 17.1% in the third quarter. Creative Planning now owns 1,820,731 shares of the biopharmaceutical company’s stock worth $52,692,000 after purchasing an additional 266,167 shares during the period. ORG Partners LLC raised its holdings in Pfizer by 1,729.9% in the second quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock worth $1,327,000 after purchasing an additional 44,458 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in Pfizer by 10.3% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 256,460 shares of the biopharmaceutical company’s stock valued at $7,422,000 after buying an additional 23,928 shares during the period. Finally, Everett Harris & Co. CA boosted its holdings in shares of Pfizer by 21.7% during the 3rd quarter. Everett Harris & Co. CA now owns 218,344 shares of the biopharmaceutical company’s stock valued at $6,319,000 after buying an additional 38,870 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

Pfizer Stock Performance

Shares of NYSE PFE traded up $0.21 during trading on Wednesday, reaching $29.05. 1,539,212 shares of the company traded hands, compared to its average volume of 36,827,328. 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 firm has a 50 day simple moving average of $29.07 and a 200-day simple moving average of $28.48. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $31.54. The stock has a market capitalization of $164.61 billion, a PE ratio of -480.75, a P/E/G ratio of 1.02 and a beta of 0.67.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The business 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%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 EPS. Equities research analysts anticipate that Pfizer Inc. will post 2.66 earnings per share for the current 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 paid a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.78%. Pfizer’s dividend payout ratio is currently -2,800.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PFE. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Sanford C. Bernstein initiated coverage on Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target on the stock. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Barclays boosted their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Thursday, October 3rd. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.91.

About Pfizer

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.