Rockland Trust Co. Sells 6,186 Shares of Pfizer Inc. (NYSE:PFE)

Rockland Trust Co. lessened its stake in shares of Pfizer Inc. (NYSE:PFE) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 404,254 shares of the biopharmaceutical company’s stock after selling 6,186 shares during the quarter. Rockland Trust Co.’s holdings in Pfizer were worth $11,699,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Crossmark Global Holdings Inc. raised its holdings in Pfizer by 1.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 78,863 shares of the biopharmaceutical company’s stock worth $2,271,000 after purchasing an additional 1,107 shares in the last quarter. Cutler Capital Management LLC grew its position in shares of Pfizer by 7.6% in the 4th quarter. Cutler Capital Management LLC now owns 224,661 shares of the biopharmaceutical company’s stock worth $6,468,000 after buying an additional 15,860 shares during the last quarter. Valley Financial Group Inc. bought a new position in shares of Pfizer during the 4th quarter worth approximately $268,000. Cladis Investment Advisory LLC lifted its position in Pfizer by 17.5% during the fourth quarter. Cladis Investment Advisory LLC now owns 42,905 shares of the biopharmaceutical company’s stock valued at $1,235,000 after acquiring an additional 6,392 shares during the last quarter. Finally, Schroder Investment Management Group boosted its stake in Pfizer by 14.1% in the fourth quarter. Schroder Investment Management Group now owns 5,650,086 shares of the biopharmaceutical company’s stock valued at $162,666,000 after acquiring an additional 698,526 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Stock Performance

NYSE PFE opened at $28.35 on Friday. Pfizer Inc. has a fifty-two week low of $25.20 and a fifty-two week high of $34.08. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The firm has a market capitalization of $160.65 billion, a P/E ratio of -472.50, a PEG ratio of 1.25 and a beta of 0.67. The stock has a 50-day simple moving average of $29.21 and a two-hundred day simple moving average of $28.31.

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 analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. Pfizer’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 earnings per share. On average, equities analysts forecast that Pfizer Inc. will post 2.66 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PFE. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. UBS Group upped their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Barclays raised their price target 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 restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Thursday. Finally, Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Nine equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.