Bar Harbor Wealth Management Has $5.14 Million Stake in Pfizer Inc. (NYSE:PFE)

Bar Harbor Wealth Management lessened its position in Pfizer Inc. (NYSE:PFE) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,433 shares of the biopharmaceutical company’s stock after selling 869 shares during the period. Bar Harbor Wealth Management’s holdings in Pfizer were worth $5,135,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PFE. Massachusetts Financial Services Co. MA raised its holdings in Pfizer by 3.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock valued at $2,008,798,000 after buying an additional 2,241,609 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Pfizer by 1.8% during the second quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after purchasing an additional 290,760 shares during the period. Federated Hermes Inc. grew its stake in shares of Pfizer by 3.3% in the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock worth $417,561,000 after purchasing an additional 470,003 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Pfizer by 2.4% in the second quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock valued at $287,077,000 after purchasing an additional 238,850 shares during the period. Finally, Thornburg Investment Management Inc. raised its position in Pfizer by 10.3% during the 2nd quarter. Thornburg Investment Management Inc. now owns 9,803,509 shares of the biopharmaceutical company’s stock worth $274,302,000 after purchasing an additional 912,156 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors.

Pfizer Price Performance

Shares of NYSE:PFE opened at $29.28 on Friday. The stock’s 50 day moving average is $29.05 and its 200-day moving average is $28.42. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $32.68. 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 market capitalization of $165.89 billion, a price-to-earnings ratio of -487.92, a PEG ratio of 1.30 and a beta of 0.67.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The firm had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business’s quarterly 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. Sell-side analysts forecast that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 5.74%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is currently -2,800.00%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PFE. Wells Fargo & Company upped their price target on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Barclays increased their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, UBS Group boosted their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.91.

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.