First County Bank CT Trims Position in Pfizer Inc. $PFE

First County Bank CT reduced its stake in Pfizer Inc. (NYSE:PFE) by 7.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,072 shares of the biopharmaceutical company’s stock after selling 2,687 shares during the period. First County Bank CT’s holdings in Pfizer were worth $826,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC raised its position in Pfizer by 1,282.4% during the 4th quarter. Brighton Jones LLC now owns 666,318 shares of the biopharmaceutical company’s stock valued at $17,677,000 after purchasing an additional 618,117 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Pfizer by 12.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 18,766 shares of the biopharmaceutical company’s stock valued at $498,000 after buying an additional 2,087 shares during the period. GAMMA Investing LLC increased its stake in shares of Pfizer by 4,183.6% during the first quarter. GAMMA Investing LLC now owns 1,599,742 shares of the biopharmaceutical company’s stock valued at $40,537,000 after buying an additional 1,562,396 shares during the period. Cascade Investment Advisors Inc. increased its stake in shares of Pfizer by 2.0% during the first quarter. Cascade Investment Advisors Inc. now owns 64,409 shares of the biopharmaceutical company’s stock valued at $1,632,000 after buying an additional 1,265 shares during the period. Finally, Fifth Third Wealth Advisors LLC increased its stake in shares of Pfizer by 35.9% during the first quarter. Fifth Third Wealth Advisors LLC now owns 120,285 shares of the biopharmaceutical company’s stock valued at $3,048,000 after buying an additional 31,766 shares during the period. 68.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PFE. Wall Street Zen cut shares of Pfizer from a “buy” rating to a “hold” rating in a report on Sunday. Bank of America boosted their price objective on shares of Pfizer from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 6th. Morgan Stanley boosted their price objective on shares of Pfizer from $32.00 to $33.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 6th. Finally, Citigroup lifted their price target on Pfizer from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $28.12.

Pfizer Stock Up 0.6%

Shares of NYSE PFE opened at $23.75 on Monday. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $30.43. The stock has a market cap of $135.03 billion, a PE ratio of 12.63, a P/E/G ratio of 0.77 and a beta of 0.55. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average of $24.55 and a 200 day moving average of $24.12.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.20. The business had revenue of $14.65 billion for the quarter, compared to analysts’ expectations of $13.43 billion. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. As a group, sell-side analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

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.