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

Orrstown Financial Services Inc. lowered its position in shares of Pfizer Inc. (NYSE:PFE) by 23.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,261 shares of the biopharmaceutical company’s stock after selling 3,065 shares during the period. Orrstown Financial Services Inc.’s holdings in Pfizer were worth $260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mcdonald Partners LLC increased its holdings in Pfizer by 9.9% in the 4th quarter. Mcdonald Partners LLC now owns 110,296 shares of the biopharmaceutical company’s stock valued at $2,926,000 after purchasing an additional 9,963 shares during the last quarter. Bank of Jackson Hole Trust acquired a new stake in Pfizer in the 4th quarter valued at approximately $264,000. Harvey Capital Management Inc. acquired a new stake in Pfizer in the 4th quarter valued at approximately $544,000. ING Groep NV increased its holdings in Pfizer by 48.6% in the 4th quarter. ING Groep NV now owns 1,013,230 shares of the biopharmaceutical company’s stock valued at $26,881,000 after purchasing an additional 331,403 shares during the last quarter. Finally, WCM Investment Management LLC increased its holdings in Pfizer by 128.7% in the 4th quarter. WCM Investment Management LLC now owns 115,913 shares of the biopharmaceutical company’s stock valued at $3,062,000 after purchasing an additional 65,238 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Trading Up 1.0%

Shares of PFE opened at $23.36 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63. The firm’s 50-day moving average is $22.95 and its two-hundred day moving average is $25.00. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $31.54. The firm has a market capitalization of $132.81 billion, a P/E ratio of 16.57, a PEG ratio of 0.64 and a beta of 0.57.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.25. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The company had revenue of $13.72 billion for the quarter, compared to analyst estimates of $14.43 billion. During the same period in the prior year, the business posted $0.82 earnings per share. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, research analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 9th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.72 annualized dividend and a yield of 7.36%. Pfizer’s payout ratio is currently 124.64%.

Analyst Ratings Changes

PFE has been the subject of several research reports. Guggenheim reiterated a “buy” rating on shares of Pfizer in a report on Tuesday, March 18th. Cantor Fitzgerald assumed coverage on shares of Pfizer in a research note on Tuesday, April 22nd. They issued a “neutral” rating and a $24.00 price target for the company. UBS Group boosted their price target on shares of Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $25.00 price target (down previously from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $29.17.

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.