Pfizer Inc. (NYSE:PFE) Shares Sold by Orrstown Financial Services Inc.

Orrstown Financial Services Inc. reduced its holdings in shares of Pfizer Inc. (NYSE:PFE) by 9.6% in the 4th quarter, HoldingsChannel reports. The fund owned 13,326 shares of the biopharmaceutical company’s stock after selling 1,414 shares during the quarter. Orrstown Financial Services Inc.’s holdings in Pfizer were worth $354,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PFE. Charles Schwab Investment Management Inc. lifted its position in shares of Pfizer by 11.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after buying an additional 12,864,343 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Pfizer by 22.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock valued at $1,101,713,000 after acquiring an additional 6,977,587 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Pfizer in the third quarter valued at $146,481,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Pfizer by 164.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company’s stock worth $211,737,000 after purchasing an additional 4,546,809 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in Pfizer by 226.7% during the third quarter. Fisher Asset Management LLC now owns 6,209,907 shares of the biopharmaceutical company’s stock worth $179,715,000 after buying an additional 4,309,076 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on PFE shares. StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Bank of America reaffirmed a “neutral” rating and set a $29.00 price target on shares of Pfizer in a research note on Tuesday, December 10th. Guggenheim dropped their target price on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, Truist Financial dropped their price objective on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Trading Up 0.4 %

Shares of Pfizer stock traded up $0.12 during trading hours on Wednesday, hitting $26.87. The company’s stock had a trading volume of 1,950,010 shares, compared to its average volume of 34,193,438. Pfizer Inc. has a 1-year low of $24.48 and a 1-year high of $31.54. The business has a fifty day moving average of $26.18 and a 200 day moving average of $27.91. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $152.24 billion, a PE ratio of 36.29, a P/E/G ratio of 0.64 and a beta of 0.64.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping 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 business had revenue of $17.70 billion for the quarter, compared to analyst estimates of $14.92 billion. During the same period in the previous year, the company earned ($0.17) earnings per share. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. As a group, equities analysts forecast that Pfizer Inc. will post 2.94 EPS for the current year.

Pfizer Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, January 24th will be issued a dividend of $0.43 per share. This is a positive change from Pfizer’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 6.40%. The ex-dividend date is Friday, January 24th. Pfizer’s dividend payout ratio (DPR) is currently 227.03%.

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.