Fiduciary Trust Co Sells 17,661 Shares of Pfizer Inc. (NYSE:PFE)

Fiduciary Trust Co trimmed its position in Pfizer Inc. (NYSE:PFE) by 5.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 306,250 shares of the biopharmaceutical company’s stock after selling 17,661 shares during the quarter. Fiduciary Trust Co’s holdings in Pfizer were worth $8,863,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. FAS Wealth Partners Inc. lifted its holdings in Pfizer by 1.3% in the 2nd quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock worth $736,000 after buying an additional 342 shares during the period. Sachetta LLC boosted its holdings in Pfizer by 7.3% in the second quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock valued at $140,000 after acquiring an additional 342 shares in the last quarter. Wells Trecaso Financial Group LLC increased its position in Pfizer by 2.5% during the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after purchasing an additional 350 shares during the period. Secure Asset Management LLC lifted its position in shares of Pfizer by 0.6% in the 2nd quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock worth $1,632,000 after purchasing an additional 353 shares during the period. Finally, Patrick M Sweeney & Associates Inc. increased its position in shares of Pfizer by 0.8% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock valued at $1,180,000 after buying an additional 355 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pfizer

In other news, Director Scott Gottlieb purchased 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. This represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.06% of the company’s stock.

Pfizer Price Performance

Shares of PFE opened at $25.83 on Thursday. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. The company has a market capitalization of $146.38 billion, a P/E ratio of 34.91, a price-to-earnings-growth ratio of 0.83 and a beta of 0.67. The firm has a 50 day moving average of $27.97 and a 200 day moving average of $28.52. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The business had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.17) EPS. As a group, equities research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.50%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is presently 227.03%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PFE shares. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and raised their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Wolfe Research started coverage on shares of Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 target price on the stock. Barclays upped their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. 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. Finally, Sanford C. Bernstein started coverage on shares of Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.92.

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.