First County Bank CT Has $1.71 Million Stake in Pfizer Inc. (NYSE:PFE)

First County Bank CT lowered its holdings in Pfizer Inc. (NYSE:PFE) by 8.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,017 shares of the biopharmaceutical company’s stock after selling 5,717 shares during the period. Pfizer makes up 0.8% of First County Bank CT’s portfolio, making the stock its 28th biggest position. First County Bank CT’s holdings in Pfizer were worth $1,708,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PFE. China Universal Asset Management Co. Ltd. acquired a new position in shares of Pfizer in the first quarter worth $315,000. Edgestream Partners L.P. purchased a new stake in shares of Pfizer during the 1st quarter worth about $243,000. Stonebridge Capital Advisors LLC lifted its holdings in shares of Pfizer by 35.2% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 26,586 shares of the biopharmaceutical company’s stock valued at $738,000 after buying an additional 6,921 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Pfizer by 123.9% in the 1st quarter. Gamco Investors INC. ET AL now owns 533,251 shares of the biopharmaceutical company’s stock valued at $14,798,000 after buying an additional 295,139 shares in the last quarter. Finally, Gabelli Funds LLC increased its holdings in Pfizer by 23.1% in the first quarter. Gabelli Funds LLC now owns 710,413 shares of the biopharmaceutical company’s stock worth $19,714,000 after buying an additional 133,200 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Pfizer Price Performance

NYSE:PFE opened at $25.06 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The stock has a market cap of $142.03 billion, a P/E ratio of 33.87, a PEG ratio of 0.80 and a beta of 0.67. The company has a fifty day moving average price of $28.28 and a 200 day moving average price of $28.58. Pfizer Inc. has a one year low of $24.48 and a one year high of $31.54.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. During the same quarter last year, the company earned ($0.17) earnings per share. The firm’s revenue was up 31.2% on a year-over-year basis. Analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 6.70%. The ex-dividend date of this dividend is Friday, November 8th. Pfizer’s payout ratio is presently 227.03%.

Analyst Ratings Changes

A number of analysts have issued reports on PFE shares. Citigroup started coverage on shares of Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price for the company. StockNews.com cut shares of Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and raised their target price for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Evercore ISI upgraded Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $32.92.

Insider Activity

In other Pfizer news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was purchased at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This trade represents 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 through this hyperlink. 0.06% of the stock is currently owned by company insiders.

About Pfizer

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.