Alerus Financial NA Lowers Stake in Pfizer Inc. (NYSE:PFE)

Alerus Financial NA reduced its holdings in shares of Pfizer Inc. (NYSE:PFE) by 7.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 127,375 shares of the biopharmaceutical company’s stock after selling 10,879 shares during the period. Alerus Financial NA’s holdings in Pfizer were worth $4,988,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of PFE. Benjamin Edwards Inc. boosted its holdings in shares of Pfizer by 36.5% in the first quarter. Benjamin Edwards Inc. now owns 999 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 267 shares in the last quarter. Alpha DNA Investment Management LLC boosted its holdings in shares of Pfizer by 52.2% in the first quarter. Alpha DNA Investment Management LLC now owns 1,090 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 374 shares in the last quarter. Lake Point Wealth Management purchased a new stake in shares of Pfizer in the second quarter valued at about $49,000. Harvest Fund Management Co. Ltd boosted its holdings in shares of Pfizer by 25,460.0% in the second quarter. Harvest Fund Management Co. Ltd now owns 1,278 shares of the biopharmaceutical company’s stock valued at $50,000 after acquiring an additional 1,273 shares in the last quarter. Finally, KB Financial Partners LLC purchased a new stake in shares of Pfizer in the first quarter valued at about $62,000. 64.93% of the stock is currently owned by institutional investors.

Shares of NYSE PFE traded down $0.14 during midday trading on Tuesday, reaching $44.06. 385,535 shares of the stock were exchanged, compared to its average volume of 30,980,998. The company has a market capitalization of $247.03 billion, a P/E ratio of 19.02, a P/E/G ratio of 1.58 and a beta of 0.74. Pfizer Inc. has a 52-week low of $33.36 and a 52-week high of $51.86. The company has a current ratio of 1.37, a quick ratio of 1.12 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average price of $45.13 and a 200-day moving average price of $40.64.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Wednesday, July 28th. The biopharmaceutical company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.10. The business had revenue of $18.98 billion during the quarter, compared to the consensus estimate of $17.54 billion. Pfizer had a net margin of 23.06% and a return on equity of 26.49%. During the same period in the previous year, the firm posted $0.78 earnings per share. On average, analysts forecast that Pfizer Inc. will post 4.12 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 7th. Stockholders of record on Friday, July 30th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, July 29th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.54%. Pfizer’s dividend payout ratio (DPR) is presently 70.27%.

In related news, SVP Jennifer B. Damico sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, July 30th. The shares were sold at an average price of $42.86, for a total value of $107,150.00. Following the completion of the sale, the senior vice president now directly owns 11,430 shares in the company, valued at $489,889.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Jennifer B. Damico sold 1,661 shares of the business’s stock in a transaction that occurred on Friday, August 13th. The stock was sold at an average price of $48.30, for a total transaction of $80,226.30. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.

Several analysts have recently weighed in on PFE shares. SVB Leerink lifted their target price on shares of Pfizer from $49.00 to $50.00 and gave the company a “market perform” rating in a report on Monday. Royal Bank of Canada set a $44.00 price objective on shares of Pfizer in a research note on Thursday, July 29th. Truist started coverage on shares of Pfizer in a research note on Tuesday, July 27th. They issued a “buy” rating and a $43.00 price objective for the company. The Goldman Sachs Group set a $48.00 price objective on shares of Pfizer in a research note on Thursday, July 29th. Finally, Mizuho raised their price objective on shares of Pfizer from $42.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, July 30th. Eleven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Pfizer currently has an average rating of “Hold” and a consensus target price of $42.85.

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.

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Institutional Ownership by Quarter for Pfizer (NYSE:PFE)

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