First County Bank CT Decreases Stock Holdings in Pfizer Inc. (NYSE:PFE)

First County Bank CT cut its holdings in Pfizer Inc. (NYSE:PFE) by 35.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,359 shares of the biopharmaceutical company’s stock after selling 20,658 shares during the quarter. First County Bank CT’s holdings in Pfizer were worth $1,018,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Gladius Capital Management LP lifted its holdings 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 valued at $30,000 after acquiring an additional 38,015 shares during the last quarter. Quarry LP purchased a new position in shares of Pfizer in the 2nd quarter worth approximately $31,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Pfizer during the 3rd quarter valued at approximately $35,000. Joseph Group Capital Management raised its holdings in Pfizer by 168.3% during the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock valued at $36,000 after buying an additional 771 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new position in Pfizer during the second quarter worth $38,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Stock Up 0.5 %

Pfizer stock traded up $0.13 during trading hours on Tuesday, reaching $27.02. The stock had a trading volume of 26,335,066 shares, compared to its average volume of 33,919,930. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54. The company has a market cap of $153.12 billion, a price-to-earnings ratio of 36.51, a PEG ratio of 0.63 and a beta of 0.64. 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 business’s 50 day moving average price is $26.29 and its 200-day moving average price is $28.07.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. Pfizer’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.17) earnings per share. Sell-side analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, January 24th will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, January 24th. This represents a $1.72 annualized dividend and a dividend yield of 6.37%. This is an increase from Pfizer’s previous quarterly dividend of $0.42. Pfizer’s dividend payout ratio is 232.43%.

Analyst Upgrades and Downgrades

PFE has been the subject of several analyst reports. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Bank of America restated a “neutral” rating and set a $29.00 target price on shares of Pfizer in a research report on Tuesday, December 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. Truist Financial cut their price objective on Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Finally, Sanford C. Bernstein assumed coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.15.

Insider Activity at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased at an average cost of $28.24 per share, with a total value of $28,240.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.06% of the stock is currently owned by insiders.

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.