Bangor Savings Bank Reduces Position in Pfizer Inc. (NYSE:PFE)

Bangor Savings Bank reduced its holdings in Pfizer Inc. (NYSE:PFE) by 11.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,362 shares of the biopharmaceutical company’s stock after selling 5,975 shares during the period. Bangor Savings Bank’s holdings in Pfizer were worth $1,231,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Clifford Swan Investment Counsel LLC boosted its holdings in shares of Pfizer by 4.7% in the 4th quarter. Clifford Swan Investment Counsel LLC now owns 417,070 shares of the biopharmaceutical company’s stock valued at $12,007,000 after acquiring an additional 18,611 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its stake in shares of Pfizer by 40.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 4,739,672 shares of the biopharmaceutical company’s stock valued at $157,215,000 after purchasing an additional 1,365,295 shares during the period. LifePlan Financial LLC acquired a new position in shares of Pfizer in the 4th quarter valued at $255,000. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in shares of Pfizer in the 4th quarter valued at $16,166,000. Finally, KLCM Advisors Inc. lifted its stake in shares of Pfizer by 75.0% in the 4th quarter. KLCM Advisors Inc. now owns 173,793 shares of the biopharmaceutical company’s stock valued at $5,004,000 after purchasing an additional 74,487 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Performance

Pfizer stock remained flat at $27.74 during midday trading on Friday. 52,561,555 shares of the company traded hands, compared to its average volume of 30,487,030. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $38.99. The firm has a market cap of $157.19 billion, a PE ratio of -462.26, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70. The stock’s fifty day moving average price is $27.67 and its 200-day moving average price is $27.71. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.64%. The business had revenue of $14.88 billion during the quarter, compared to analysts’ expectations of $13.87 billion. During the same period last year, the business earned $1.23 earnings per share. The business’s revenue for the quarter was down 19.5% on a year-over-year basis. Equities analysts anticipate that Pfizer Inc. will post 2.38 EPS for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 10th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 6.06%. The ex-dividend date was Thursday, May 9th. Pfizer’s payout ratio is -2,799.53%.

Analysts Set New Price Targets

PFE has been the subject of several analyst reports. Morgan Stanley boosted their target price on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Monday, June 17th. BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 price objective (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Finally, Argus downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $35.86.

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.