Norway Savings Bank Has $507,000 Stake in Pfizer Inc. (NYSE:PFE)

Norway Savings Bank reduced its position in shares of Pfizer Inc. (NYSE:PFE) by 13.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,264 shares of the biopharmaceutical company’s stock after selling 2,815 shares during the quarter. Norway Savings Bank’s holdings in Pfizer were worth $507,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PFE. Kathmere Capital Management LLC purchased a new position in Pfizer during the 1st quarter valued at about $203,000. Sawyer & Company Inc grew its position in Pfizer by 2.4% during the first quarter. Sawyer & Company Inc now owns 20,824 shares of the biopharmaceutical company’s stock valued at $578,000 after purchasing an additional 485 shares in the last quarter. AMF Tjanstepension AB increased its stake in Pfizer by 389.2% in the 1st quarter. AMF Tjanstepension AB now owns 1,225,479 shares of the biopharmaceutical company’s stock valued at $34,023,000 after buying an additional 974,967 shares during the period. Pinnacle Bancorp Inc. lifted its position in Pfizer by 19.1% in the 1st quarter. Pinnacle Bancorp Inc. now owns 31,909 shares of the biopharmaceutical company’s stock worth $885,000 after buying an additional 5,111 shares in the last quarter. Finally, Addenda Capital Inc. boosted its stake in shares of Pfizer by 0.5% during the 1st quarter. Addenda Capital Inc. now owns 199,272 shares of the biopharmaceutical company’s stock valued at $5,530,000 after buying an additional 947 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Trading Up 0.7 %

Pfizer stock opened at $27.99 on Friday. The firm has a market capitalization of $158.61 billion, a PE ratio of -466.42, a PEG ratio of 1.09 and a beta of 0.70. The business’s 50-day simple moving average is $27.90 and its 200-day simple moving average is $27.69. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05. Pfizer Inc. has a 52 week low of $25.20 and a 52 week high of $37.80.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The company had revenue of $14.88 billion during the quarter, compared to analyst estimates of $13.87 billion. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The company’s quarterly revenue was down 19.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.23 earnings per share. Equities research analysts forecast that Pfizer Inc. will post 2.38 earnings per share for the current year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, July 26th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date of this dividend is Thursday, July 25th. Pfizer’s dividend payout ratio is currently -2,799.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PFE shares. Morgan Stanley upped their price target on shares of Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Argus downgraded Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Wednesday. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 target price (up from $33.00) on shares of Pfizer in a research note on Thursday, May 2nd. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Pfizer currently has an average rating of “Hold” and an average price target of $35.86.

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.