Glenmede Trust Co. NA Cuts Stock Position in Pfizer Inc. (NYSE:PFE)

Glenmede Trust Co. NA decreased its position in shares of Pfizer Inc. (NYSE:PFE) by 2.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,067,929 shares of the biopharmaceutical company’s stock after selling 28,214 shares during the period. Glenmede Trust Co. NA’s holdings in Pfizer were worth $30,906,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Hardy Reed LLC lifted its holdings in shares of Pfizer by 16.5% during the 3rd quarter. Hardy Reed LLC now owns 11,133 shares of the biopharmaceutical company’s stock valued at $322,000 after purchasing an additional 1,578 shares during the last quarter. Townsquare Capital LLC increased its position in Pfizer by 28.9% during the 3rd quarter. Townsquare Capital LLC now owns 742,714 shares of the biopharmaceutical company’s stock valued at $21,494,000 after buying an additional 166,709 shares in the last quarter. Baldwin Investment Management LLC increased its position in Pfizer by 40.7% during the 3rd quarter. Baldwin Investment Management LLC now owns 20,298 shares of the biopharmaceutical company’s stock valued at $587,000 after buying an additional 5,875 shares in the last quarter. Cadence Bank boosted its holdings in Pfizer by 19.8% in the third quarter. Cadence Bank now owns 329,693 shares of the biopharmaceutical company’s stock worth $9,541,000 after acquiring an additional 54,490 shares in the last quarter. Finally, Shum Financial Group Inc. acquired a new stake in Pfizer in the third quarter worth about $214,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Pfizer

In other Pfizer news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

PFE has been the subject of several research analyst reports. Sanford C. Bernstein assumed coverage on shares of Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Barclays raised their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.92.

Pfizer Stock Up 0.2 %

NYSE PFE opened at $25.83 on Thursday. The business’s fifty day simple moving average is $27.97 and its 200-day simple moving average is $28.52. 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 cap of $146.38 billion, a PE ratio of 34.91, a P/E/G ratio of 0.83 and a beta of 0.67. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54.

Pfizer (NYSE:PFE) last issued its 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. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company had revenue of $17.70 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same period in the previous year, the firm earned ($0.17) earnings per share. Pfizer’s quarterly revenue was up 31.2% compared to the same quarter last year. As a group, equities analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The firm also recently announced 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 of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 6.50%. Pfizer’s dividend payout ratio (DPR) is 227.03%.

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.