Penobscot Investment Management Company Inc. Grows Position in Pfizer Inc. (NYSE:PFE)

Penobscot Investment Management Company Inc. raised its holdings in shares of Pfizer Inc. (NYSE:PFE) by 2.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,301 shares of the biopharmaceutical company’s stock after purchasing an additional 2,527 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Pfizer were worth $2,415,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PFE. Norges Bank bought a new stake in shares of Pfizer during the fourth quarter valued at about $2,328,986,000. Charles Schwab Investment Management Inc. increased its position in shares of Pfizer by 19.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock valued at $4,124,330,000 after buying an additional 25,315,159 shares during the period. Starboard Value LP bought a new stake in shares of Pfizer during the fourth quarter valued at about $407,730,000. Raymond James Financial Inc. bought a new stake in shares of Pfizer during the fourth quarter valued at about $274,694,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Pfizer by 307.5% during the first quarter. Assenagon Asset Management S.A. now owns 10,046,340 shares of the biopharmaceutical company’s stock valued at $254,574,000 after buying an additional 7,581,030 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PFE has been the topic of several research analyst reports. UBS Group upped their price objective on shares of Pfizer from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. The Goldman Sachs Group restated a “neutral” rating and issued a $25.00 price objective (down from $32.00) on shares of Pfizer in a research report on Tuesday, April 8th. Hsbc Global Res upgraded shares of Pfizer to a “strong-buy” rating in a research report on Monday, March 10th. Citigroup restated a “neutral” rating on shares of Pfizer in a research report on Thursday, March 27th. Finally, Cantor Fitzgerald started coverage on shares of Pfizer in a research report on Tuesday, April 22nd. They issued a “neutral” rating and a $24.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.17.

Pfizer Stock Down 0.1%

Shares of Pfizer stock opened at $24.29 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 1.26. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $31.54. The stock has a market capitalization of $138.10 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 0.88 and a beta of 0.57. The company’s 50 day moving average price is $23.38 and its 200-day moving average price is $24.87.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.25. Pfizer had a return on equity of 20.33% and a net margin of 12.62%. The company had revenue of $13.72 billion during the quarter, compared to analyst estimates of $14.43 billion. During the same quarter last year, the firm posted $0.82 earnings per share. The firm’s revenue was down 7.8% on a year-over-year basis. Equities research analysts forecast that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 7.08%. Pfizer’s payout ratio is 124.64%.

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.