Bangor Savings Bank Sells 2,433 Shares of Pfizer Inc. (NYSE:PFE)

Bangor Savings Bank lowered its holdings in Pfizer Inc. (NYSE:PFE) by 6.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,767 shares of the biopharmaceutical company’s stock after selling 2,433 shares during the period. Bangor Savings Bank’s holdings in Pfizer were worth $948,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Olistico Wealth LLC purchased a new stake in shares of Pfizer during the second quarter worth $25,000. MFA Wealth Advisors LLC bought a new position in Pfizer in the 2nd quarter worth about $29,000. Quarry LP purchased a new position in Pfizer during the 2nd quarter valued at about $31,000. Creekmur Asset Management LLC bought a new stake in shares of Pfizer during the fourth quarter valued at about $32,000. Finally, Trivant Custom Portfolio Group LLC lifted its holdings in shares of Pfizer by 100.0% in the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 600 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on PFE shares. Wells Fargo & Company upped their target price on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Barclays upped their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. StockNews.com lowered Pfizer from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Thursday, October 3rd. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Price Performance

PFE stock opened at $29.19 on Tuesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The firm has a market cap of $165.41 billion, a P/E ratio of -486.50, a P/E/G ratio of 1.23 and a beta of 0.67. The firm’s fifty day moving average is $29.17 and its 200 day moving average is $28.32. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $33.92.

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