Cape Cod Five Cents Savings Bank Reduces Holdings in Pfizer Inc. (NYSE:PFE)

Cape Cod Five Cents Savings Bank lessened its stake in Pfizer Inc. (NYSE:PFE) by 8.9% in the third quarter, Holdings Channel reports. The institutional investor owned 21,238 shares of the biopharmaceutical company’s stock after selling 2,081 shares during the quarter. Cape Cod Five Cents Savings Bank’s holdings in Pfizer were worth $594,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. FAS Wealth Partners Inc. boosted its holdings in shares of Pfizer by 1.3% during the second quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock valued at $736,000 after acquiring an additional 342 shares during the period. Sachetta LLC raised its holdings in Pfizer by 7.3% during the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after buying an additional 342 shares during the period. Wells Trecaso Financial Group LLC raised its holdings in Pfizer by 2.5% during the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock worth $416,000 after buying an additional 350 shares during the period. Secure Asset Management LLC raised its holdings in Pfizer by 0.6% during the 2nd quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock worth $1,632,000 after buying an additional 353 shares during the period. Finally, Patrick M Sweeney & Associates Inc. raised its holdings in Pfizer by 0.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock worth $1,180,000 after buying an additional 355 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Insider Activity

In related news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.06% of the company’s stock.

Pfizer Trading Up 1.5 %

NYSE PFE opened at $26.12 on Tuesday. The business’s 50-day moving average price is $27.42 and its two-hundred day moving average price is $28.36. Pfizer Inc. has a 12 month low of $24.48 and a 12 month high of $31.54. The firm has a market capitalization of $148.02 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 0.70 and a beta of 0.65. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. During the same quarter last year, the firm posted ($0.17) earnings per share. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. On average, analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Friday, November 8th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.68 dividend on an annualized basis and a yield of 6.43%. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Analysts Set New Price Targets

Several equities research analysts recently commented on PFE shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. Sanford C. Bernstein started coverage on Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target for the company. Wolfe Research started coverage on Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price for the company. StockNews.com lowered Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Finally, Evercore ISI upgraded Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.92.

About Pfizer

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.