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% during the third quarter, Holdings Channel reports. The fund owned 13,219 shares of the biopharmaceutical company’s stock after selling 2,631 shares during the period. Hemenway Trust Co LLC’s holdings in Pfizer were worth $383,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PFE. Massachusetts Financial Services Co. MA boosted its stake in shares of Pfizer by 3.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after buying an additional 2,241,609 shares during the period. Van ECK Associates Corp boosted its position in Pfizer by 2.8% during the third quarter. Van ECK Associates Corp now owns 16,560,256 shares of the biopharmaceutical company’s stock worth $477,929,000 after purchasing an additional 456,168 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in Pfizer by 4.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 16,553,997 shares of the biopharmaceutical company’s stock worth $479,073,000 after acquiring an additional 658,420 shares during the last quarter. Federated Hermes Inc. lifted its stake in Pfizer by 3.3% in the 2nd quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after buying an additional 470,003 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Pfizer by 4.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,118,764 shares of the biopharmaceutical company’s stock valued at $379,657,000 after acquiring an additional 544,418 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Insider Buying and Selling at Pfizer

In related news, Director Scott Gottlieb bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.06% of the stock is owned by corporate insiders.

Pfizer Stock Performance

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

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.64 by $0.42. The firm had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. Pfizer’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.17) EPS. As a group, sell-side analysts expect that Pfizer Inc. will post 2.96 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be given a $0.42 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 6.38%. Pfizer’s dividend payout ratio (DPR) is 227.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wells Fargo & Company lifted their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. StockNews.com raised shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Citigroup started coverage on shares of Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price on the stock. UBS Group lifted 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. Finally, Sanford C. Bernstein started coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average 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.