Bar Harbor Wealth Management Decreases Stake in Pfizer Inc. (NYSE:PFE)

Bar Harbor Wealth Management lessened its holdings in Pfizer Inc. (NYSE:PFE) by 0.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 177,433 shares of the biopharmaceutical company’s stock after selling 869 shares during the period. Bar Harbor Wealth Management’s holdings in Pfizer were worth $5,135,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its position in Pfizer by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after purchasing an additional 2,241,609 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Pfizer by 1.8% in the second quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after purchasing an additional 290,760 shares in the last quarter. Federated Hermes Inc. raised its position in shares of Pfizer by 3.3% in the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after purchasing an additional 470,003 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Pfizer by 2.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock valued at $287,077,000 after buying an additional 238,850 shares in the last quarter. Finally, Thornburg Investment Management Inc. boosted its holdings in Pfizer by 10.3% in the 2nd quarter. Thornburg Investment Management Inc. now owns 9,803,509 shares of the biopharmaceutical company’s stock worth $274,302,000 after buying an additional 912,156 shares during the period. 68.36% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Wells Fargo & Company increased their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. UBS Group lifted their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, Barclays raised their price objective on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Pfizer currently has an average rating of “Moderate Buy” and a consensus price target of $33.91.

Pfizer Trading Down 1.3 %

Shares of PFE opened at $29.28 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. Pfizer Inc. has a 1-year low of $25.20 and a 1-year high of $32.68. The company has a market capitalization of $165.89 billion, a P/E ratio of -487.92, a P/E/G ratio of 1.30 and a beta of 0.67. The firm’s 50 day simple moving average is $29.05 and its 200 day simple moving average is $28.42.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter last year, the company posted $0.67 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. Sell-side analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s payout ratio is currently -2,800.00%.

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.