Adirondack Trust Co. Decreases Stock Holdings in Pfizer Inc. (NYSE:PFE)

Adirondack Trust Co. reduced its position in shares of Pfizer Inc. (NYSE:PFE) by 22.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 41,805 shares of the biopharmaceutical company’s stock after selling 12,187 shares during the period. Adirondack Trust Co.’s holdings in Pfizer were worth $1,109,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Retirement Wealth Solutions LLC bought a new position in Pfizer in the fourth quarter worth about $26,000. Gladius Capital Management LP raised its position in shares of Pfizer by 102.8% in the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 38,015 shares in the last quarter. Quarry LP purchased a new position in shares of Pfizer in the 2nd quarter valued at approximately $31,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Pfizer during the third quarter valued at approximately $35,000. Finally, Joseph Group Capital Management grew its stake in Pfizer by 168.3% in the third 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. 68.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PFE. Wolfe Research assumed coverage on shares of Pfizer in a research report on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price on the stock. StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Sanford C. Bernstein assumed coverage on Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target on the stock. UBS Group reduced their price objective on Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, Citigroup began coverage on Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Insider Buying and Selling

In related news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. This trade represents a 11.11 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.06% of the stock is currently owned by insiders.

Pfizer Stock Down 2.4 %

PFE opened at $26.01 on Thursday. Pfizer Inc. has a twelve month low of $24.48 and a twelve month high of $31.54. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average price of $26.07 and a 200-day moving average price of $27.96. The stock has a market capitalization of $147.40 billion, a price-to-earnings ratio of 35.15, a PEG ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same period in the prior year, the firm earned ($0.17) EPS. The company’s revenue was up 31.2% compared to the same quarter last year. Equities research analysts forecast that Pfizer Inc. will post 2.94 earnings per share for the current year.

Pfizer Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 6.61%. The ex-dividend date is Friday, January 24th. This is a boost from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is 227.03%.

Pfizer Company 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.