Legacy Private Trust Co. Decreases Stake in Pfizer Inc. (NYSE:PFE)

Legacy Private Trust Co. lowered its stake in Pfizer Inc. (NYSE:PFE) by 20.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 10,673 shares of the biopharmaceutical company’s stock after selling 2,779 shares during the quarter. Legacy Private Trust Co.’s holdings in Pfizer were worth $309,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in PFE. Olistico Wealth LLC bought a new stake in Pfizer in the 2nd quarter worth $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Pfizer in the second 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 position in Pfizer during the 4th quarter valued at approximately $32,000. Finally, Trivant Custom Portfolio Group LLC lifted its holdings in Pfizer by 100.0% in the 1st 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 during the period. Institutional investors own 68.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PFE shares. StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday. Barclays upped their price objective 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Thursday, October 3rd. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, UBS Group raised their price objective on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Stock Performance

PFE stock opened at $29.18 on Wednesday. The stock’s 50 day simple moving average is $29.14 and its 200 day simple moving average is $28.33. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 12-month low of $25.20 and a 12-month high of $33.92. The stock has a market capitalization of $165.35 billion, a PE ratio of -486.33, a price-to-earnings-growth ratio of 1.23 and a beta of 0.67.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 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 company had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same period last year, the firm posted $0.67 earnings per share. Pfizer’s revenue was up 2.1% compared to the same quarter last year. As a group, research analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current fiscal year.

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.