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

Bell Bank trimmed its holdings in shares of Pfizer Inc. (NYSE:PFE) by 14.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 279,031 shares of the biopharmaceutical company’s stock after selling 48,074 shares during the period. Pfizer makes up approximately 1.0% of Bell Bank’s investment portfolio, making the stock its 25th largest holding. Bell Bank’s holdings in Pfizer were worth $8,075,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Addison Advisors LLC raised its position in shares of Pfizer by 394.2% during the 3rd quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock worth $1,512,000 after buying an additional 41,668 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Pfizer by 4.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,118,764 shares of the biopharmaceutical company’s stock valued at $379,657,000 after acquiring an additional 544,418 shares during the period. LGT Group Foundation raised its holdings in Pfizer by 2.5% during the second quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock worth $20,786,000 after purchasing an additional 18,274 shares in the last quarter. Radnor Capital Management LLC acquired a new stake in Pfizer in the third quarter worth approximately $2,972,000. Finally, Kornitzer Capital Management Inc. KS boosted its stake in Pfizer by 2.4% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 1,168,315 shares of the biopharmaceutical company’s stock valued at $33,811,000 after purchasing an additional 27,562 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

Pfizer Stock Performance

PFE stock opened at $26.72 on Thursday. The firm has a 50 day simple moving average of $28.80 and a 200 day simple moving average of $28.68. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $31.54. The stock has a market cap of $151.42 billion, a P/E ratio of 36.11, a P/E/G ratio of 0.83 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. During the same quarter last year, the business posted ($0.17) EPS. The company’s revenue for the quarter was up 31.2% on a year-over-year basis. Research analysts anticipate that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.29%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Analysts Set New Price Targets

A number of analysts have recently commented on PFE shares. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Citigroup initiated coverage on shares of Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target for the company. Barclays lifted their price objective on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Finally, Sanford C. Bernstein initiated coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price on the stock. Eight research analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Pfizer has a consensus rating of “Moderate Buy” and a consensus target price of $33.58.

Insider Activity

In other Pfizer news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were purchased at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $282,400. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by corporate insiders.

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.