Horizon Bancorp Inc. IN Sells 11,572 Shares of Pfizer Inc. (NYSE:PFE)

Horizon Bancorp Inc. IN lessened its stake in Pfizer Inc. (NYSE:PFE) by 12.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,719 shares of the biopharmaceutical company’s stock after selling 11,572 shares during the quarter. Pfizer comprises 1.1% of Horizon Bancorp Inc. IN’s investment portfolio, making the stock its 15th biggest position. Horizon Bancorp Inc. IN’s holdings in Pfizer were worth $2,394,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Olistico Wealth LLC acquired a new position in Pfizer during the 2nd quarter worth about $25,000. MFA Wealth Advisors LLC purchased a new stake in Pfizer in the 2nd quarter valued at $29,000. Quarry LP bought a new position in shares of Pfizer during the second quarter valued at about $31,000. Trivant Custom Portfolio Group LLC grew its position in Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares in the last quarter. Finally, Financial Connections Group Inc. purchased a new stake in Pfizer in the 2nd quarter valued at about $34,000. 68.36% of the stock is currently owned by institutional investors.

Pfizer Trading Down 0.7 %

NYSE:PFE traded down $0.19 during midday trading on Friday, reaching $28.45. 26,091,111 shares of the stock traded hands, compared to its average volume of 36,849,277. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The company has a fifty day moving average of $29.07 and a 200 day moving average of $28.49. The stock has a market capitalization of $161.22 billion, a P/E ratio of -61.87, a PEG ratio of 1.01 and a beta of 0.67. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $31.54.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $13.28 billion for 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%. Pfizer’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 EPS. On average, research analysts predict that Pfizer Inc. will post 2.67 EPS for the current year.

Pfizer Dividend Announcement

The business 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. This represents a $1.68 annualized dividend and a yield of 5.91%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is currently -365.21%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Wednesday. UBS Group boosted their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Wells Fargo & Company raised their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Sanford C. Bernstein assumed coverage on Pfizer in a research note on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.58.

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.