Berkshire Bank Has $3.83 Million Position in Pfizer Inc. (NYSE:PFE)

Berkshire Bank lowered its stake in shares of Pfizer Inc. (NYSE:PFE) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 89,019 shares of the biopharmaceutical company’s stock after selling 1,675 shares during the period. Pfizer comprises about 0.9% of Berkshire Bank’s investment portfolio, making the stock its 28th biggest holding. Berkshire Bank’s holdings in Pfizer were worth $3,829,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. GoalVest Advisory LLC acquired a new stake in shares of Pfizer during the 2nd quarter valued at $39,000. Lake Point Wealth Management acquired a new stake in shares of Pfizer during the 2nd quarter valued at $49,000. Harvest Fund Management Co. Ltd boosted its stake in shares of Pfizer by 25,460.0% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 1,278 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 1,273 shares during the period. Activest Wealth Management acquired a new stake in shares of Pfizer during the 2nd quarter valued at $55,000. Finally, KB Financial Partners LLC acquired a new stake in shares of Pfizer in the 1st quarter valued at $62,000. 64.99% of the stock is owned by institutional investors.

In other Pfizer news, insider John D. Young sold 150,000 shares of the company’s stock in a transaction dated Thursday, November 11th. The shares were sold at an average price of $50.06, for a total transaction of $7,509,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.05% of the company’s stock.

Several equities research analysts recently issued reports on PFE shares. Truist lifted their price objective on shares of Pfizer from $43.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday. Benchmark lifted their price objective on shares of Pfizer from $29.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 5th. Morgan Stanley lifted their price objective on shares of Pfizer from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 12th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Pfizer in a research note on Friday, November 5th. Finally, Independent Research raised shares of Pfizer to a “buy” rating and set a $53.00 price objective for the company in a research note on Thursday, November 11th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Pfizer currently has an average rating of “Hold” and an average price target of $49.00.

Shares of NYSE:PFE traded down $0.19 on Thursday, hitting $50.89. 18,556,753 shares of the company were exchanged, compared to its average volume of 30,943,912. The firm has a market capitalization of $285.64 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 1.16 and a beta of 0.72. The company’s 50 day moving average price is $45.01 and its two-hundred day moving average price is $43.27. Pfizer Inc. has a one year low of $33.36 and a one year high of $52.83. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.12 and a current ratio of 1.37.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, November 2nd. The biopharmaceutical company reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.26. The business had revenue of $24.09 billion for the quarter, compared to analysts’ expectations of $22.82 billion. Pfizer had a net margin of 27.66% and a return on equity of 31.66%. The firm’s revenue for the quarter was up 134.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Research analysts predict that Pfizer Inc. will post 4.2 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 6th. Investors of record on Friday, November 5th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, November 4th. This represents a $1.56 dividend on an annualized basis and a yield of 3.07%. Pfizer’s payout ratio is currently 46.43%.

About Pfizer

Pfizer Inc is a research-based global biopharmaceutical company. It engages in the discovery, development, manufacture, marketing, sales and distribution of biopharmaceutical products worldwide. The firm work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases.

Further Reading: Systematic Risk and Investors

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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