HM Payson & Co. Reduces Stock Position in Pfizer Inc. (NYSE:PFE)

by · The Markets Daily

HM Payson & Co. lowered its position in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 3.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 634,130 shares of the biopharmaceutical company’s stock after selling 24,780 shares during the period. HM Payson & Co.’s holdings in Pfizer were worth $18,352,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PFE. Olistico Wealth LLC purchased a new stake in Pfizer during the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC bought a new position in shares of Pfizer in the 2nd quarter worth about $29,000. Quarry LP bought a new position in shares of Pfizer in the 2nd quarter worth about $31,000. Financial Connections Group Inc. bought a new position in shares of Pfizer in the 2nd quarter worth about $34,000. Finally, ESL Trust Services LLC bought a new position in shares of Pfizer in the 1st quarter worth about $37,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

PFE traded down $0.10 during trading hours on Thursday, hitting $28.42. The company’s stock had a trading volume of 2,164,317 shares, compared to its average volume of 37,048,828. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $31.54. The stock has a market cap of $161.05 billion, a price-to-earnings ratio of 38.54, a P/E/G ratio of 0.99 and a beta of 0.67. The business’s 50-day moving average price is $29.06 and its 200-day moving average price is $28.56.

Pfizer (NYSE:PFE – Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. During the same period in the prior year, the firm earned ($0.17) earnings per share. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. Sell-side analysts expect that Pfizer Inc. will post 2.67 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 8th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 5.91%. Pfizer’s dividend payout ratio (DPR) is presently 227.03%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PFE shares. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company raised their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Sanford C. Bernstein started coverage on shares of Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective for the company. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a research note on Wednesday, October 23rd. Eight equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.58.

View Our Latest Analysis on Pfizer

Pfizer Company Profile

(Free Report)

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.

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