Norway Savings Bank Sells 2,765 Shares of Pfizer Inc. (NYSE:PFE)

Norway Savings Bank decreased its holdings in shares of Pfizer Inc. (NYSE:PFE) by 14.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,924 shares of the biopharmaceutical company’s stock after selling 2,765 shares during the period. Norway Savings Bank’s holdings in Pfizer were worth $461,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. LGT Group Foundation grew its position in Pfizer by 2.5% in the second quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock valued at $20,786,000 after acquiring an additional 18,274 shares during the period. ORG Partners LLC increased 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 worth $1,327,000 after purchasing an additional 44,458 shares in the last quarter. Kempner Capital Management Inc. bought a new position in Pfizer during the 1st quarter valued at about $2,439,000. Commerzbank Aktiengesellschaft FI boosted its position in Pfizer by 29.1% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 342,361 shares of the biopharmaceutical company’s stock valued at $9,579,000 after buying an additional 77,073 shares in the last quarter. Finally, First Foundation Advisors grew its stake in Pfizer by 15.3% during the first quarter. First Foundation Advisors now owns 155,951 shares of the biopharmaceutical company’s stock worth $4,328,000 after buying an additional 20,670 shares during the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Trading Up 1.5 %

PFE traded up $0.44 during trading on Tuesday, reaching $29.52. 11,306,473 shares of the company’s stock were exchanged, compared to its average volume of 37,193,457. The company’s fifty day moving average price is $29.02 and its 200-day moving average price is $28.40. The firm has a market capitalization of $167.28 billion, a PE ratio of -494.00, a P/E/G ratio of 1.30 and a beta of 0.67. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $33.92. 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 (NYSE:PFE) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business 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 company posted $0.67 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. As a group, equities analysts forecast that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.69%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s payout ratio is -2,800.00%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PFE shares. Barclays lifted their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. UBS Group raised their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $34.54.

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.