Orrstown Financial Services Inc. Trims Stock Position in Pfizer Inc. (NYSE:PFE)

Orrstown Financial Services Inc. lessened its holdings in Pfizer Inc. (NYSE:PFE) by 23.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,261 shares of the biopharmaceutical company’s stock after selling 3,065 shares during the period. Orrstown Financial Services Inc.’s holdings in Pfizer were worth $260,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mcdonald Partners LLC lifted its holdings in shares of Pfizer by 9.9% in the fourth quarter. Mcdonald Partners LLC now owns 110,296 shares of the biopharmaceutical company’s stock valued at $2,926,000 after purchasing an additional 9,963 shares in the last quarter. Bank of Jackson Hole Trust purchased a new position in shares of Pfizer during the fourth quarter valued at approximately $264,000. Harvey Capital Management Inc. purchased a new position in shares of Pfizer during the fourth quarter valued at approximately $544,000. ING Groep NV lifted its stake in shares of Pfizer by 48.6% during the fourth quarter. ING Groep NV now owns 1,013,230 shares of the biopharmaceutical company’s stock valued at $26,881,000 after buying an additional 331,403 shares during the period. Finally, WCM Investment Management LLC lifted its stake in shares of Pfizer by 128.7% during the fourth quarter. WCM Investment Management LLC now owns 115,913 shares of the biopharmaceutical company’s stock valued at $3,062,000 after buying an additional 65,238 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Citigroup reissued a “neutral” rating on shares of Pfizer in a research note on Thursday, March 27th. The Goldman Sachs Group reissued a “neutral” rating and set a $25.00 price objective (down previously from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. Guggenheim reissued a “buy” rating on shares of Pfizer in a research note on Tuesday, March 18th. Finally, UBS Group increased their price target on shares of Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and an average price target of $29.17.

Pfizer Price Performance

Pfizer stock opened at $23.36 on Friday. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $31.54. The firm has a fifty day moving average of $22.95 and a 200-day moving average of $25.00. The firm has a market capitalization of $132.81 billion, a P/E ratio of 16.57, a PEG ratio of 0.64 and a beta of 0.57. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The company had revenue of $13.72 billion during the quarter, compared to analyst estimates of $14.43 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. As a group, analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 9th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 7.36%. The ex-dividend date of this dividend is Friday, May 9th. Pfizer’s payout ratio is currently 124.64%.

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.