Adirondack Trust Co. Lowers Stock Holdings in Pfizer Inc. (NYSE:PFE)

Adirondack Trust Co. lessened its stake in shares of Pfizer Inc. (NYSE:PFE) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,992 shares of the biopharmaceutical company’s stock after selling 1,275 shares during the quarter. Adirondack Trust Co.’s holdings in Pfizer were worth $1,562,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Olistico Wealth LLC purchased a new position in shares of Pfizer during the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC acquired a new stake in Pfizer in the second quarter valued at $29,000. Quarry LP purchased a new stake in shares of Pfizer during the 2nd quarter worth $31,000. Creekmur Asset Management LLC acquired a new position in shares of Pfizer during the 4th quarter worth $32,000. Finally, Trivant Custom Portfolio Group LLC lifted its stake 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 valued at $33,000 after purchasing an additional 600 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PFE shares. 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 report on Wednesday, August 7th. Barclays lifted their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a report on Thursday, October 3rd. Wells Fargo & Company lifted their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Trading Up 3.5 %

NYSE PFE opened at $30.20 on Thursday. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $33.92. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The company has a 50-day moving average of $29.09 and a 200-day moving average of $28.35. The company has a market cap of $171.10 billion, a P/E ratio of -503.25, a P/E/G 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 earnings per share 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 for the quarter, compared to analyst estimates of $12.96 billion. During the same period in the previous year, the company posted $0.67 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts predict that Pfizer Inc. will post 2.66 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.56%. Pfizer’s dividend payout ratio (DPR) is presently -2,800.00%.

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.