Perkins Coie Trust Co Sells 2,112 Shares of Pfizer Inc. (NYSE:PFE)

Perkins Coie Trust Co trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 1.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 114,028 shares of the biopharmaceutical company’s stock after selling 2,112 shares during the quarter. Perkins Coie Trust Co’s holdings in Pfizer were worth $3,299,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of PFE. Olistico Wealth LLC bought a new stake in Pfizer during the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC bought a new stake in Pfizer during the 2nd quarter worth approximately $29,000. Quarry LP bought a new stake in Pfizer during the 2nd quarter worth approximately $31,000. Creekmur Asset Management LLC bought a new position in shares of Pfizer during the 4th quarter worth approximately $32,000. Finally, Trivant Custom Portfolio Group LLC grew its stake in shares of Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 600 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Pfizer Stock Performance

Pfizer stock traded up $0.56 during mid-day trading on Wednesday, hitting $29.74. 8,751,107 shares of the company’s stock traded hands, compared to its average volume of 37,252,441. The firm has a 50 day simple moving average of $29.09 and a two-hundred day simple moving average of $28.35. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $33.92. The stock has a market cap of $168.52 billion, a price-to-earnings ratio of -486.33, a P/E/G ratio of 1.23 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 (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $12.96 billion. During the same quarter last year, the firm posted $0.67 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. On average, research analysts expect that Pfizer Inc. will post 2.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PFE. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. UBS Group raised their price target 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. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Wells Fargo & Company raised their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Barclays raised their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.54.

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.