Legacy Private Trust Co. Lowers Position in Pfizer Inc. (NYSE:PFE)

Legacy Private Trust Co. lowered its holdings in Pfizer Inc. (NYSE:PFE) by 0.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 144,126 shares of the biopharmaceutical company’s stock after selling 613 shares during the period. Legacy Private Trust Co.’s holdings in Pfizer were worth $5,287,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. LVM Capital Management Ltd. MI raised its holdings in shares of Pfizer by 10.7% in the 2nd quarter. LVM Capital Management Ltd. MI now owns 268,753 shares of the biopharmaceutical company’s stock valued at $9,858,000 after acquiring an additional 26,072 shares in the last quarter. Bangor Savings Bank raised its holdings in shares of Pfizer by 2.6% during the 2nd quarter. Bangor Savings Bank now owns 47,675 shares of the biopharmaceutical company’s stock valued at $1,749,000 after buying an additional 1,229 shares in the last quarter. Nexus Investment Management ULC raised its holdings in shares of Pfizer by 0.8% during the 2nd quarter. Nexus Investment Management ULC now owns 735,731 shares of the biopharmaceutical company’s stock valued at $26,987,000 after buying an additional 5,740 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Pfizer by 1.1% during the 2nd quarter. Nordea Investment Management AB now owns 8,364,811 shares of the biopharmaceutical company’s stock valued at $303,559,000 after buying an additional 87,755 shares in the last quarter. Finally, Independence Bank of Kentucky raised its holdings in shares of Pfizer by 0.4% during the 2nd quarter. Independence Bank of Kentucky now owns 75,383 shares of the biopharmaceutical company’s stock valued at $2,765,000 after buying an additional 315 shares in the last quarter. Hedge funds and other institutional investors own 68.05% of the company’s stock.

Pfizer Stock Performance

Shares of PFE stock opened at $34.03 on Friday. Pfizer Inc. has a 12 month low of $33.54 and a 12 month high of $54.93. The stock has a market cap of $192.13 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 1.14 and a beta of 0.59. The company has a current ratio of 2.12, a quick ratio of 1.82 and a debt-to-equity ratio of 0.62. The company’s fifty day moving average price is $35.83 and its 200-day moving average price is $38.04.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, August 1st. The biopharmaceutical company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. Pfizer had a net margin of 27.55% and a return on equity of 28.36%. The firm had revenue of $12.73 billion for the quarter, compared to analysts’ expectations of $13.36 billion. During the same quarter in the previous year, the business posted $2.04 EPS. The company’s quarterly revenue was down 54.1% on a year-over-year basis. On average, equities analysts expect that Pfizer Inc. will post 3.33 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Friday, July 28th were given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 4.82%. The ex-dividend date of this dividend was Thursday, July 27th. Pfizer’s dividend payout ratio is presently 43.62%.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of research reports. Jefferies Financial Group decreased their price objective on Pfizer from $40.00 to $38.00 in a report on Wednesday, August 2nd. Credit Suisse Group cut Pfizer from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $47.00 to $40.00 in a report on Thursday, June 29th. BMO Capital Markets dropped their price objective on Pfizer from $45.00 to $44.00 and set an “outperform” rating for the company in a research note on Wednesday, August 2nd. StockNews.com assumed coverage on shares of Pfizer in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Barclays cut their target price on shares of Pfizer from $40.00 to $38.00 in a report on Tuesday, July 11th. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $46.35.

About Pfizer

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, 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.