Harbour Trust & Investment Management Co Trims Position in Pfizer Inc. (NYSE:PFE)

Harbour Trust & Investment Management Co lessened its stake in shares of Pfizer Inc. (NYSE:PFE) by 28.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,415 shares of the biopharmaceutical company’s stock after selling 6,554 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in Pfizer were worth $475,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PFE. Olistico Wealth LLC bought a new stake in shares of Pfizer during the 2nd quarter valued at about $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Pfizer during the 2nd quarter valued at about $29,000. Quarry LP bought a new stake in shares of Pfizer during the 2nd quarter valued at about $31,000. Trivant Custom Portfolio Group LLC boosted its position in shares of Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 600 shares during the last quarter. Finally, Financial Connections Group Inc. bought a new stake in shares of Pfizer during the 2nd quarter valued at about $34,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

Shares of Pfizer stock opened at $28.65 on Friday. 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 company has a market cap of $162.35 billion, a PE ratio of -62.28, a P/E/G ratio of 1.01 and a beta of 0.67. The business has a 50 day moving average of $29.07 and a 200 day moving average of $28.48. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $31.54.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 earnings per share. As a group, equities research analysts forecast that Pfizer Inc. will post 2.67 earnings per share for the current year.

Pfizer Dividend Announcement

The company 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 $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 5.86%. Pfizer’s dividend payout ratio (DPR) is -365.21%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. UBS Group lifted their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Wednesday. Finally, Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus 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.