Coastline Trust Co Sells 4,550 Shares of Pfizer Inc. (NYSE:PFE)

Coastline Trust Co lowered its holdings in shares of Pfizer Inc. (NYSE:PFE) by 47.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,100 shares of the biopharmaceutical company’s stock after selling 4,550 shares during the quarter. Coastline Trust Co’s holdings in Pfizer were worth $148,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of PFE. Addison Advisors LLC raised its position in shares of Pfizer by 394.2% in the third quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock valued at $1,512,000 after purchasing an additional 41,668 shares during the period. Empowered Funds LLC boosted its holdings in Pfizer by 80.9% during the third quarter. Empowered Funds LLC now owns 508,256 shares of the biopharmaceutical company’s stock valued at $14,709,000 after acquiring an additional 227,349 shares during the period. KBC Group NV grew its position in shares of Pfizer by 26.0% in the third quarter. KBC Group NV now owns 3,105,433 shares of the biopharmaceutical company’s stock valued at $89,872,000 after purchasing an additional 639,985 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Pfizer by 4.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 13,118,764 shares of the biopharmaceutical company’s stock worth $379,657,000 after purchasing an additional 544,418 shares during the period. Finally, LGT Group Foundation boosted its stake in Pfizer by 2.5% during the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock valued at $20,786,000 after purchasing an additional 18,274 shares during the period. 68.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $28.00 to $34.00 in a research report on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. Barclays raised their price target on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Wells Fargo & Company increased their target price 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. Finally, UBS Group boosted their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and an average price target of $32.92.

Pfizer Stock Performance

Pfizer stock opened at $24.80 on Friday. Pfizer Inc. has a 12-month low of $24.48 and a 12-month high of $31.54. The stock has a 50-day simple moving average of $28.64 and a 200 day simple moving average of $28.66. 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 stock has a market capitalization of $140.54 billion, a price-to-earnings ratio of 33.51, a P/E/G ratio of 0.79 and a beta of 0.67.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The business had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. Pfizer’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) earnings per share. On average, research analysts anticipate that Pfizer Inc. will post 2.96 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, November 8th. This represents a $1.68 annualized dividend and a yield of 6.77%. Pfizer’s dividend payout ratio is currently 227.03%.

Insider Activity

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction on Wednesday, October 30th. The stock was purchased at an average price of $28.24 per share, with a total value of $28,240.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. The trade was a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.06% of the company’s stock.

Pfizer 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.