Northern Trust Corp Has $2.31 Billion Position in Pfizer Inc. (NYSE:PFE)

Northern Trust Corp cut its stake in Pfizer Inc. (NYSE:PFE) by 4.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,075,184 shares of the biopharmaceutical company’s stock after selling 3,104,916 shares during the period. Northern Trust Corp owned approximately 1.12% of Pfizer worth $2,313,598,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Front Street Capital Management Inc. grew its holdings in shares of Pfizer by 4.3% in the first quarter. Front Street Capital Management Inc. now owns 5,168 shares of the biopharmaceutical company’s stock worth $268,000 after purchasing an additional 215 shares during the last quarter. Madison Wealth Management grew its holdings in shares of Pfizer by 0.6% in the first quarter. Madison Wealth Management now owns 42,810 shares of the biopharmaceutical company’s stock worth $1,747,000 after purchasing an additional 262 shares during the last quarter. Capital Planning Advisors LLC grew its holdings in shares of Pfizer by 1.8% in the second quarter. Capital Planning Advisors LLC now owns 16,091 shares of the biopharmaceutical company’s stock worth $590,000 after purchasing an additional 281 shares during the last quarter. Gilbert & Cook Inc. grew its holdings in shares of Pfizer by 1.3% in the first quarter. Gilbert & Cook Inc. now owns 21,268 shares of the biopharmaceutical company’s stock worth $868,000 after purchasing an additional 283 shares during the last quarter. Finally, YHB Investment Advisors Inc. grew its holdings in Pfizer by 0.4% during the 1st quarter. YHB Investment Advisors Inc. now owns 79,905 shares of the biopharmaceutical company’s stock worth $3,260,000 after acquiring an additional 284 shares in the last quarter. 68.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PFE shares. Wells Fargo & Company lowered their price target on shares of Pfizer from $39.00 to $35.00 and set an “equal weight” rating on the stock in a report on Monday, October 16th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $75.00 price objective on shares of Pfizer in a research report on Monday. Citigroup decreased their price objective on shares of Pfizer from $42.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, October 16th. Truist Financial decreased their price objective on shares of Pfizer from $62.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, October 17th. Finally, StockNews.com assumed coverage on shares of Pfizer in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $42.50.

Pfizer Stock Performance

Shares of NYSE PFE traded down $0.16 during midday trading on Tuesday, reaching $29.82. 2,239,846 shares of the stock were exchanged, compared to its average volume of 25,448,164. The firm has a market cap of $168.38 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 1.91 and a beta of 0.63. Pfizer Inc. has a twelve month low of $28.93 and a twelve month high of $54.93. The firm has a 50-day simple moving average of $31.89 and a two-hundred day simple moving average of $35.17. The company has a quick ratio of 2.05, a current ratio of 2.38 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.15. The business had revenue of $13.23 billion for the quarter, compared to analysts’ expectations of $13.77 billion. Pfizer had a net margin of 15.30% and a return on equity of 16.72%. As a group, analysts anticipate that Pfizer Inc. will post 1.56 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Friday, November 10th will be paid a $0.41 dividend. The ex-dividend date is Thursday, November 9th. This represents a $1.64 dividend on an annualized basis and a yield of 5.50%. Pfizer’s dividend payout ratio is currently 89.62%.

Pfizer Profile

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.