Orrstown Financial Services Inc. Buys New Stake in Pfizer Inc. (NYSE:PFE)

Orrstown Financial Services Inc. purchased a new position in shares of Pfizer Inc. (NYSE:PFE) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,740 shares of the biopharmaceutical company’s stock, valued at approximately $427,000.

Other large investors have also recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. grew its position in Pfizer by 16.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 41,275 shares of the biopharmaceutical company’s stock valued at $1,145,000 after acquiring an additional 5,682 shares in the last quarter. Exchange Capital Management Inc. increased its stake in Pfizer by 1.4% during the 1st quarter. Exchange Capital Management Inc. now owns 35,048 shares of the biopharmaceutical company’s stock worth $973,000 after buying an additional 500 shares during the period. Naviter Wealth LLC lifted its holdings in Pfizer by 80.9% in the 1st quarter. Naviter Wealth LLC now owns 38,987 shares of the biopharmaceutical company’s stock worth $1,082,000 after buying an additional 17,430 shares in the last quarter. Plimoth Trust Co. LLC boosted its position in Pfizer by 2.2% in the 1st quarter. Plimoth Trust Co. LLC now owns 64,723 shares of the biopharmaceutical company’s stock valued at $1,796,000 after buying an additional 1,406 shares during the last quarter. Finally, Tradewinds Capital Management LLC boosted its position in Pfizer by 27.3% in the 1st quarter. Tradewinds Capital Management LLC now owns 2,330 shares of the biopharmaceutical company’s stock valued at $65,000 after buying an additional 500 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Trading Up 1.5 %

NYSE PFE opened at $28.87 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. Pfizer Inc. has a one year low of $25.20 and a one year high of $31.54. The company has a 50-day simple moving average of $29.08 and a 200-day simple moving average of $28.54. The firm has a market capitalization of $163.60 billion, a PE ratio of -62.76, a price-to-earnings-growth ratio of 0.99 and a beta of 0.67.

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

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 5.82%. Pfizer’s dividend payout ratio is currently -365.21%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Citigroup initiated coverage on Pfizer in a research note on Friday. They issued a “neutral” rating and a $30.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Sanford C. Bernstein initiated coverage on shares of Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target on the stock. Finally, Barclays raised their price objective on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pfizer presently 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.