Trust Co. of Toledo NA OH Decreases Stock Holdings in Pfizer Inc. (NYSE:PFE)

Trust Co. of Toledo NA OH cut its holdings in shares of Pfizer Inc. (NYSE:PFE) by 2.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 143,633 shares of the biopharmaceutical company’s stock after selling 3,260 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Pfizer were worth $3,811,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PFE. Gladius Capital Management LP grew its stake in shares of Pfizer by 102.8% during the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 38,015 shares during the period. Quarry LP acquired a new stake in Pfizer during the second quarter valued at $31,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Pfizer in the third quarter worth about $35,000. Joseph Group Capital Management raised its holdings in Pfizer by 168.3% in the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 771 shares during the period. Finally, Kennebec Savings Bank purchased a new position in Pfizer during the third quarter worth approximately $50,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PFE. Wolfe Research initiated coverage on shares of Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 price objective on the stock. Citigroup initiated coverage on Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective for the company. Bank of America reiterated a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. Sanford C. Bernstein began coverage on shares of Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. Finally, Truist Financial decreased their target price on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Pfizer Stock Performance

Shares of PFE stock traded down $0.20 during midday trading on Monday, hitting $26.52. The company had a trading volume of 7,651,801 shares, compared to its average volume of 31,469,996. Pfizer Inc. has a 52-week low of $24.48 and a 52-week high of $31.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The company’s 50 day simple moving average is $26.18 and its 200 day simple moving average is $28.04. The stock has a market cap of $150.29 billion, a price-to-earnings ratio of 35.84, a PEG ratio of 0.63 and a beta of 0.64.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The company had revenue of $17.70 billion for 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 firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.17) EPS. Research analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be given a dividend of $0.43 per share. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 6.49%. The ex-dividend date is Friday, January 24th. Pfizer’s payout ratio is presently 232.43%.

Insider Activity

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $282,400. The trade was a 11.11 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.06% of the company’s stock.

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.