Webster Bank N. A. Sells 6,081 Shares of Pfizer Inc. (NYSE:PFE)

Webster Bank N. A. trimmed its stake in shares of Pfizer Inc. (NYSE:PFE) by 9.6% during the third quarter, HoldingsChannel.com reports. The firm owned 57,310 shares of the biopharmaceutical company’s stock after selling 6,081 shares during the quarter. Webster Bank N. A.’s holdings in Pfizer were worth $1,659,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. FAS Wealth Partners Inc. raised its stake in Pfizer by 1.3% in the 2nd quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock worth $736,000 after acquiring an additional 342 shares during the last quarter. Sachetta LLC raised its stake in Pfizer by 7.3% in the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after acquiring an additional 342 shares during the last quarter. Ironvine Capital Partners LLC raised its stake in Pfizer by 2.1% in the 1st quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock worth $470,000 after acquiring an additional 353 shares during the last quarter. Secure Asset Management LLC raised its stake in Pfizer by 0.6% in the 2nd quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock worth $1,632,000 after acquiring an additional 353 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. raised its stake in Pfizer by 0.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock worth $1,180,000 after acquiring an additional 355 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PFE has been the topic of several analyst reports. Barclays increased their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Wells Fargo & Company increased their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, UBS Group increased their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Price Performance

PFE stock traded down $0.18 during trading on Friday, hitting $29.16. The stock had a trading volume of 29,617,610 shares, compared to its average volume of 37,393,754. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. Pfizer Inc. has a twelve month low of $25.20 and a twelve month high of $33.92. The stock has a market capitalization of $165.24 billion, a P/E ratio of -486.00, a PEG ratio of 1.30 and a beta of 0.67. The company’s 50-day moving average price is $29.04 and its two-hundred day moving average price is $28.38.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. During the same period last year, the company posted $0.67 EPS. The business’s revenue was up 2.1% on a year-over-year basis. As a group, research analysts predict that Pfizer Inc. will post 2.66 EPS 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 given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 5.76%. The ex-dividend date is Friday, November 8th. Pfizer’s payout ratio is presently -2,800.00%.

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.