Pfizer Inc. (NYSE:PFE) Shares Sold by Hemenway Trust Co LLC

Hemenway Trust Co LLC lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 16.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,219 shares of the biopharmaceutical company’s stock after selling 2,631 shares during the quarter. Hemenway Trust Co LLC’s holdings in Pfizer were worth $383,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PFE. FAS Wealth Partners Inc. lifted its holdings in shares of Pfizer by 1.3% in the second quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock valued at $736,000 after purchasing an additional 342 shares in the last quarter. Sachetta LLC boosted its position in Pfizer by 7.3% during the second quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 342 shares during the period. Wells Trecaso Financial Group LLC grew its stake in Pfizer by 2.5% in the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after buying an additional 350 shares during the last quarter. Ironvine Capital Partners LLC boosted its stake in Pfizer by 2.1% in the 1st quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock valued at $470,000 after purchasing an additional 353 shares during the period. Finally, Secure Asset Management LLC grew its stake in shares of Pfizer by 0.6% in the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock valued at $1,632,000 after acquiring an additional 353 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PFE shares. UBS Group boosted their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Evercore ISI raised Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Wednesday, October 23rd. Citigroup assumed coverage on shares of Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective for the company. Finally, Wells Fargo & Company increased their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.58.

Pfizer Price Performance

Pfizer stock traded up $0.10 during mid-day trading on Tuesday, hitting $26.34. The stock had a trading volume of 6,032,369 shares, compared to its average volume of 37,516,043. The firm’s 50 day moving average is $28.84 and its 200 day moving average is $28.67. The firm has a market capitalization of $149.27 billion, a P/E ratio of 35.46, a P/E/G ratio of 0.85 and a beta of 0.67. Pfizer Inc. has a one year low of $25.20 and a one year high of $31.54. The company has a current ratio of 1.00, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same period in the prior year, the company earned ($0.17) EPS. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. On average, sell-side analysts forecast that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 dividend yield of 6.38%. Pfizer’s payout ratio is 227.03%.

Insider Activity

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.06% of the company’s stock.

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.