Rockland Trust Co. Grows Stock Position in Pfizer Inc. (NYSE:PFE)

Posted by Defense World Staff on Jul 9th, 2023

Rockland Trust Co. boosted its position in Pfizer Inc. (NYSE:PFE – Free Report) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 259,864 shares of the biopharmaceutical company’s stock after purchasing an additional 6,473 shares during the quarter. Rockland Trust Co.’s holdings in Pfizer were worth $10,602,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PFE. RB Capital Management LLC increased its holdings in shares of Pfizer by 6.7% in the first quarter. RB Capital Management LLC now owns 5,446 shares of the biopharmaceutical company’s stock valued at $282,000 after purchasing an additional 341 shares during the last quarter. Ironwood Wealth Management LLC. increased its stake in shares of Pfizer by 1.1% in the 1st quarter. Ironwood Wealth Management LLC. now owns 36,081 shares of the biopharmaceutical company’s stock worth $1,868,000 after acquiring an additional 400 shares during the last quarter. United Bank raised its holdings in shares of Pfizer by 0.6% during the 1st quarter. United Bank now owns 46,671 shares of the biopharmaceutical company’s stock worth $2,416,000 after acquiring an additional 290 shares during the period. Ergoteles LLC boosted its position in shares of Pfizer by 136.3% during the 1st quarter. Ergoteles LLC now owns 36,766 shares of the biopharmaceutical company’s stock valued at $1,903,000 after acquiring an additional 21,209 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Pfizer by 6.4% in the first quarter. Mackenzie Financial Corp now owns 1,337,418 shares of the biopharmaceutical company’s stock valued at $69,238,000 after purchasing an additional 79,887 shares during the period. Hedge funds and other institutional investors own 67.80% of the company’s stock.

Insider Transactions at Pfizer

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were acquired at an average price of $38.58 per share, with a total value of $38,580.00. Following the transaction, the director now owns 6,000 shares of the company’s stock, valued at $231,480. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.05% of the company’s stock.

Wall Street Analysts Forecast Growth

PFE has been the topic of several recent analyst reports. Wells Fargo & Company decreased their target price on shares of Pfizer from $50.00 to $44.00 and set an “equal weight” rating on the stock in a report on Friday, March 17th. Daiwa Capital Markets cut Pfizer from an “outperform” rating to a “neutral” rating and set a $38.00 target price for the company. in a research note on Thursday, May 11th. UBS Group lowered their price target on Pfizer from $41.00 to $39.00 in a report on Friday, May 5th. Credit Suisse Group cut shares of Pfizer from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $47.00 to $40.00 in a research report on Thursday, June 29th. Finally, Morgan Stanley dropped their price target on shares of Pfizer from $45.00 to $44.00 and set an “equal weight” rating for the company in a research report on Monday, April 10th. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Pfizer currently has an average rating of “Hold” and a consensus price target of $46.67.

Pfizer Stock Performance

Shares of Pfizer stock opened at $35.53 on Friday. The business has a 50-day simple moving average of $38.03 and a 200-day simple moving average of $41.57. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.11 and a current ratio of 1.37. Pfizer Inc. has a one year low of $35.35 and a one year high of $54.93. The company has a market cap of $200.58 billion, a PE ratio of 6.99, a P/E/G ratio of 1.18 and a beta of 0.61.

Pfizer (NYSE:PFE – Free Report) last posted its quarterly earnings results on Tuesday, May 2nd. The biopharmaceutical company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.00 by $0.23. Pfizer had a net margin of 31.25% and a return on equity of 37.53%. The company had revenue of $18.28 billion during the quarter, compared to analysts’ expectations of $16.49 billion. During the same quarter in the previous year, the business posted $1.62 EPS. The firm’s revenue was down 28.8% on a year-over-year basis. On average, equities research analysts forecast that Pfizer Inc. will post 3.35 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, July 28th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date of this dividend is Thursday, July 27th. Pfizer’s dividend payout ratio (DPR) is 32.28%.

About Pfizer

(Free Report)

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, 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.