Rockland Trust Co. Trims Position in Pfizer Inc. (NYSE:PFE)

Rockland Trust Co. lessened its holdings in shares of Pfizer Inc. (NYSE:PFE) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 404,254 shares of the biopharmaceutical company’s stock after selling 6,186 shares during the quarter. Rockland Trust Co.’s holdings in Pfizer were worth $11,699,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Crossmark Global Holdings Inc. increased its stake in Pfizer by 1.4% in the 4th quarter. Crossmark Global Holdings Inc. now owns 78,863 shares of the biopharmaceutical company’s stock worth $2,271,000 after acquiring an additional 1,107 shares during the last quarter. Cutler Capital Management LLC increased its position in Pfizer by 7.6% in the fourth quarter. Cutler Capital Management LLC now owns 224,661 shares of the biopharmaceutical company’s stock worth $6,468,000 after purchasing an additional 15,860 shares during the last quarter. Valley Financial Group Inc. purchased a new stake in Pfizer during the fourth quarter valued at $268,000. Cladis Investment Advisory LLC lifted its position in Pfizer by 17.5% during the fourth quarter. Cladis Investment Advisory LLC now owns 42,905 shares of the biopharmaceutical company’s stock valued at $1,235,000 after purchasing an additional 6,392 shares during the last quarter. Finally, Schroder Investment Management Group grew its stake in shares of Pfizer by 14.1% in the 4th quarter. Schroder Investment Management Group now owns 5,650,086 shares of the biopharmaceutical company’s stock worth $162,666,000 after buying an additional 698,526 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Trading Down 0.9 %

PFE stock opened at $28.35 on Friday. The company has a market capitalization of $160.65 billion, a PE ratio of -472.50, a P/E/G ratio of 1.25 and a beta of 0.67. 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 12 month low of $25.20 and a 12 month high of $34.08. The firm’s 50-day moving average is $29.21 and its 200 day moving average is $28.31.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. During the same period in the previous year, the company posted $0.67 EPS. Pfizer’s revenue was up 2.1% on a year-over-year basis. On average, research analysts anticipate that Pfizer Inc. will post 2.66 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on PFE shares. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Barclays lifted their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Wells Fargo & Company increased their price target on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. UBS Group lifted their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $34.54.

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.