Pfizer Inc. (NYSE:PFE) Shares Sold by Norway Savings Bank

Norway Savings Bank reduced its position in shares of Pfizer Inc. (NYSE:PFE) by 13.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,264 shares of the biopharmaceutical company’s stock after selling 2,815 shares during the period. Norway Savings Bank’s holdings in Pfizer were worth $507,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Kathmere Capital Management LLC acquired a new stake in shares of Pfizer in the 1st quarter worth $203,000. Sawyer & Company Inc grew its position in Pfizer by 2.4% in the first quarter. Sawyer & Company Inc now owns 20,824 shares of the biopharmaceutical company’s stock worth $578,000 after acquiring an additional 485 shares during the period. AMF Tjanstepension AB lifted its stake in shares of Pfizer by 389.2% in the 1st quarter. AMF Tjanstepension AB now owns 1,225,479 shares of the biopharmaceutical company’s stock valued at $34,023,000 after purchasing an additional 974,967 shares during the last quarter. Pinnacle Bancorp Inc. grew its holdings in shares of Pfizer by 19.1% during the 1st quarter. Pinnacle Bancorp Inc. now owns 31,909 shares of the biopharmaceutical company’s stock worth $885,000 after purchasing an additional 5,111 shares during the period. Finally, Addenda Capital Inc. lifted its position in Pfizer by 0.5% in the first quarter. Addenda Capital Inc. now owns 199,272 shares of the biopharmaceutical company’s stock valued at $5,530,000 after buying an additional 947 shares during the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Stock Performance

Shares of PFE stock opened at $27.99 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66. The stock’s 50-day moving average price is $27.90 and its 200 day moving average price is $27.69. Pfizer Inc. has a 52-week low of $25.20 and a 52-week high of $37.80. The stock has a market capitalization of $158.61 billion, a PE ratio of -466.42, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The company had revenue of $14.88 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the previous year, the company earned $1.23 EPS. The firm’s revenue for the quarter was down 19.5% compared to the same quarter last year. As a group, equities research analysts forecast that Pfizer Inc. will post 2.38 EPS for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, July 26th will be issued a dividend of $0.42 per share. The ex-dividend date is Thursday, July 25th. This represents a $1.68 annualized dividend and a yield of 6.00%. Pfizer’s dividend payout ratio is presently -2,799.53%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PFE shares. Morgan Stanley upped their price objective on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, May 2nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 price objective (up previously from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Argus cut Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Wednesday. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $35.86.

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.