Ledyard National Bank Cuts Stock Holdings in Pfizer Inc. (NYSE:PFE)

Ledyard National Bank reduced its position in shares of Pfizer Inc. (NYSE:PFE) by 11.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 247,938 shares of the biopharmaceutical company’s stock after selling 31,000 shares during the period. Ledyard National Bank’s holdings in Pfizer were worth $7,175,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Copeland Capital Management LLC purchased a new position in Pfizer during the third quarter worth about $144,000. Northwest Investment Counselors LLC purchased a new position in Pfizer during the third quarter worth about $103,000. Livelsberger Financial Advisory acquired a new position in Pfizer during the third quarter worth about $124,000. Little House Capital LLC grew its position in Pfizer by 16.2% during the third quarter. Little House Capital LLC now owns 40,196 shares of the biopharmaceutical company’s stock worth $1,163,000 after buying an additional 5,593 shares during the period. Finally, Genesee Capital Advisors LLC acquired a new position in Pfizer during the third quarter worth about $249,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Performance

Shares of PFE stock opened at $28.93 on Tuesday. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $31.54. The company has a market cap of $163.93 billion, a PE ratio of -482.17, a P/E/G ratio of 1.02 and a beta of 0.67. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The company’s fifty day simple moving average is $29.07 and its 200-day simple moving average is $28.47.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.14. The company had revenue of $13.28 billion during the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the business earned $0.67 EPS. As a group, equities research analysts anticipate that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 5.81%. The ex-dividend date is Friday, November 8th. Pfizer’s dividend payout ratio is currently -2,800.00%.

Wall Street Analysts Forecast Growth

PFE has been the topic of several recent analyst reports. Sanford C. Bernstein initiated coverage on shares of Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price on the stock. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and increased their price target for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Wells Fargo & Company increased their price target on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Barclays increased their price target on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.91.

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.