Grove Bank & Trust Has $672,000 Holdings in Pfizer Inc. (NYSE:PFE)

Grove Bank & Trust boosted its stake in Pfizer Inc. (NYSE:PFE) by 6.2% during the first quarter, Holdings Channel reports. The institutional investor owned 26,531 shares of the biopharmaceutical company’s stock after buying an additional 1,554 shares during the period. Grove Bank & Trust’s holdings in Pfizer were worth $672,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PFE. Vanguard Group Inc. lifted its position in shares of Pfizer by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 518,535,151 shares of the biopharmaceutical company’s stock valued at $13,756,738,000 after acquiring an additional 2,285,276 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Pfizer by 19.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock worth $4,124,330,000 after purchasing an additional 25,315,159 shares during the last quarter. Geode Capital Management LLC boosted its stake in Pfizer by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 120,589,782 shares of the biopharmaceutical company’s stock valued at $3,190,131,000 after buying an additional 2,923,537 shares in the last quarter. Norges Bank acquired a new position in shares of Pfizer during the fourth quarter worth $2,328,986,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Pfizer by 7.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 76,502,238 shares of the biopharmaceutical company’s stock worth $2,029,604,000 after purchasing an additional 5,350,381 shares during the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Stock Down 1.6%

Shares of NYSE PFE opened at $24.00 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 0.96. The company has a 50-day moving average price of $23.14 and a 200-day moving average price of $24.93. The stock has a market capitalization of $136.47 billion, a P/E ratio of 17.39, a P/E/G ratio of 0.89 and a beta of 0.57. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $31.54.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.25. The business had revenue of $13.72 billion during the quarter, compared to analyst estimates of $14.43 billion. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. Pfizer’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.82 EPS. On average, equities research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 9th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.17%. The ex-dividend date was Friday, May 9th. Pfizer’s payout ratio is 124.64%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PFE shares. Guggenheim reissued a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. UBS Group lifted their price target on shares of Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. Cantor Fitzgerald began coverage on Pfizer in a report on Tuesday, April 22nd. They issued a “neutral” rating and a $24.00 price objective for the company. Hsbc Global Res raised Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $25.00 target price (down previously from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.17.

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.