Baxter Bros Inc. Cuts Holdings in Pfizer Inc. (NYSE:PFE)

Baxter Bros Inc. lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,919 shares of the biopharmaceutical company’s stock after selling 756 shares during the period. Baxter Bros Inc.’s holdings in Pfizer were worth $1,850,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of PFE. China Universal Asset Management Co. Ltd. bought a new stake in Pfizer during the first quarter valued at about $315,000. Norden Group LLC boosted its holdings in shares of Pfizer by 26.8% in the 1st quarter. Norden Group LLC now owns 30,336 shares of the biopharmaceutical company’s stock valued at $842,000 after buying an additional 6,404 shares in the last quarter. Lincoln National Corp grew its position in shares of Pfizer by 5.8% in the 1st quarter. Lincoln National Corp now owns 142,753 shares of the biopharmaceutical company’s stock worth $3,961,000 after buying an additional 7,782 shares during the last quarter. Summit Financial Wealth Advisors LLC raised its stake in shares of Pfizer by 157.4% during the 1st quarter. Summit Financial Wealth Advisors LLC now owns 31,302 shares of the biopharmaceutical company’s stock worth $869,000 after acquiring an additional 19,142 shares in the last quarter. Finally, Blume Capital Management Inc. raised its stake in shares of Pfizer by 33.7% during the 1st quarter. Blume Capital Management Inc. now owns 65,793 shares of the biopharmaceutical company’s stock worth $1,826,000 after acquiring an additional 16,568 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

PFE has been the subject of several recent analyst reports. Barclays raised their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group raised their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Sanford C. Bernstein initiated coverage on shares of Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price for the company. 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 analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Pfizer presently has an average rating of “Moderate Buy” and a consensus target price of $33.58.

Insider Activity

In related news, Director Scott Gottlieb acquired 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at $282,400. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

Pfizer Stock Performance

Shares of PFE opened at $28.09 on Friday. The stock has a 50-day moving average of $29.03 and a two-hundred day moving average of $28.59. 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 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The stock has a market cap of $159.18 billion, a P/E ratio of 37.96, a P/E/G ratio of 0.90 and a beta of 0.67.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a return on equity of 16.40% and a net margin of 7.07%. The firm’s revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.17) EPS. As a group, research analysts predict that Pfizer Inc. will post 2.95 EPS for the current 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 issued a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 5.98%. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

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.