Pinnacle Associates Ltd. Reduces Stock Holdings in Pfizer Inc. $PFE

by · The Markets Daily

Pinnacle Associates Ltd. lessened its stake in shares of Pfizer Inc. (NYSE:PFE – Free Report) by 3.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 544,066 shares of the biopharmaceutical company’s stock after selling 18,644 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Pfizer were worth $13,188,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Capital Advisors Inc. OK grew its position in Pfizer by 1.2% during the 1st quarter. Capital Advisors Inc. OK now owns 1,413,472 shares of the biopharmaceutical company’s stock worth $35,817,000 after purchasing an additional 17,032 shares during the last quarter. Westbourne Investments Inc. purchased a new position in shares of Pfizer during the first quarter worth about $2,411,000. Bourne Lent Asset Management Inc. increased its position in Pfizer by 90.8% in the 2nd quarter. Bourne Lent Asset Management Inc. now owns 38,255 shares of the biopharmaceutical company’s stock valued at $927,000 after acquiring an additional 18,200 shares during the period. Strs Ohio purchased a new stake in Pfizer during the 1st quarter valued at approximately $49,968,000. Finally, IFM Investors Pty Ltd increased its holdings in shares of Pfizer by 3.8% in the second quarter. IFM Investors Pty Ltd now owns 1,127,143 shares of the biopharmaceutical company’s stock valued at $27,322,000 after purchasing an additional 41,263 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Trading Up 1.6%

Shares of Pfizer stock opened at $24.68 on Friday. The company has a 50-day moving average of $24.77 and a two-hundred day moving average of $24.27. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $28.64. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The stock has a market cap of $140.29 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 0.81 and a beta of 0.55.

Pfizer (NYSE:PFE – Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.20. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.The business had revenue of $14.65 billion for the quarter, compared to analysts’ expectations of $13.43 billion. During the same quarter in the prior year, the firm posted $0.60 EPS. The company’s revenue was up 10.3% compared to the same quarter last year. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. On average, research analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 7.0%. The ex-dividend date is Friday, November 7th. Pfizer’s payout ratio is currently 91.49%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. UBS Group reaffirmed a “neutral” rating and set a $28.00 price target on shares of Pfizer in a report on Wednesday, October 1st. Wall Street Zen cut shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Sunday, September 28th. Morgan Stanley dropped their price target on shares of Pfizer from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Friday, October 10th. Sanford C. Bernstein reissued a “market perform” rating and set a $30.00 price target on shares of Pfizer in a report on Friday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Pfizer in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Pfizer has a consensus rating of “Hold” and a consensus target price of $28.24.

Get Our Latest Stock Analysis on Pfizer

About Pfizer

(Free Report)

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.

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