Ledyard National Bank Lowers Stake in Pfizer Inc. (NYSE:PFE)

Ledyard National Bank cut its stake in Pfizer Inc. (NYSE:PFE) by 11.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 247,938 shares of the biopharmaceutical company’s stock after selling 31,000 shares during the quarter. Ledyard National Bank’s holdings in Pfizer were worth $7,175,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LGT Group Foundation lifted its stake in Pfizer by 2.5% in the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock valued at $20,786,000 after buying an additional 18,274 shares in the last quarter. Creative Planning lifted its stake in Pfizer by 17.1% in the 3rd quarter. Creative Planning now owns 1,820,731 shares of the biopharmaceutical company’s stock worth $52,692,000 after purchasing an additional 266,167 shares in the last quarter. ORG Partners LLC raised its position in shares of Pfizer by 1,729.9% during the 2nd quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock valued at $1,327,000 after buying an additional 44,458 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Pfizer by 10.3% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 256,460 shares of the biopharmaceutical company’s stock valued at $7,422,000 after buying an additional 23,928 shares during the period. Finally, Everett Harris & Co. CA raised its position in shares of Pfizer by 21.7% during the 3rd quarter. Everett Harris & Co. CA now owns 218,344 shares of the biopharmaceutical company’s stock valued at $6,319,000 after buying an additional 38,870 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Performance

NYSE PFE opened at $28.93 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. Pfizer Inc. has a 1 year low of $25.20 and a 1 year high of $31.54. The company has a market capitalization of $163.93 billion, a PE ratio of -482.17, a P/E/G ratio of 1.02 and a beta of 0.67. The company has a fifty day moving average of $29.07 and a two-hundred day moving average of $28.47.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Pfizer’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts expect that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders 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 5.81%. Pfizer’s payout ratio is -2,800.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PFE. UBS Group lifted their price target on shares of 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 report on Wednesday, August 7th. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company boosted their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.91.

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.