Penobscot Investment Management Company Inc. Cuts Stake in Pfizer Inc. (NYSE:PFE)

Penobscot Investment Management Company Inc. decreased its position in Pfizer Inc. (NYSE:PFE) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 92,774 shares of the biopharmaceutical company’s stock after selling 1,740 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Pfizer were worth $2,461,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new position in Pfizer during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new position in Pfizer during the fourth quarter worth $26,000. Kohmann Bosshard Financial Services LLC acquired a new position in Pfizer during the fourth quarter worth $28,000. Noble Wealth Management PBC acquired a new stake in Pfizer in the fourth quarter valued at $31,000. Finally, Curio Wealth LLC purchased a new stake in shares of Pfizer during the 4th quarter worth $32,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Price Performance

Shares of NYSE:PFE opened at $25.56 on Wednesday. The company has a market cap of $144.96 billion, a P/E ratio of 18.13, a P/E/G ratio of 0.64 and a beta of 0.61. The business has a fifty day simple moving average of $26.14 and a 200-day simple moving average of $27.00. Pfizer Inc. has a 52 week low of $24.48 and a 52 week high of $31.54. 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 posted its quarterly earnings results on Tuesday, February 4th. The biopharmaceutical company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.48 by $0.15. The company had revenue of $17.76 billion during the quarter, compared to analysts’ expectations of $17.26 billion. Pfizer had a return on equity of 19.47% and a net margin of 12.62%. The firm’s revenue was up 24.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. Equities research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current year.

Insider Buying and Selling

In other news, Director Ronald E. Blaylock bought 19,457 shares of Pfizer stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average price of $25.65 per share, for a total transaction of $499,072.05. Following the completion of the acquisition, the director now owns 27,707 shares of the company’s stock, valued at $710,684.55. The trade was a 235.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PFE shares. Truist Financial cut their price target on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. UBS Group decreased their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Citigroup dropped their price objective on Pfizer from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Tuesday, January 28th. Guggenheim reissued a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. Finally, Bank of America reiterated a “neutral” rating and issued a $29.00 price objective on shares of Pfizer in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $31.92.

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.