Allspring Global Investments Holdings LLC Trims Holdings in Pfizer Inc. $PFE

Key Points

• Allspring Global Investments Holdings LLC has reduced its stake in Pfizer Inc. by 28.9%, selling 341,449 shares and holding 841,381 shares worth $21,068,000 at the end of the last reporting period.
• Pfizer announced a quarterly dividend payment of $0.43 per share, which will be issued on December 1st, representing a 7.1% dividend yield.
• The company reported a revenue increase of 10.3% year-over-year for the last quarter, achieving $14.65 billion compared to analysts' expectations of $13.43 billion.

Allspring Global Investments Holdings LLC decreased its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 28.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 841,381 shares of the biopharmaceutical company's stock after selling 341,449 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Pfizer were worth $21,068,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital Advisory Group Advisory Services LLC grew its stake in shares of Pfizer by 2.9% during the second quarter. Capital Advisory Group Advisory Services LLC now owns 13,542 shares of the biopharmaceutical company's stock valued at $328,000 after acquiring an additional 388 shares in the last quarter. Citizens National Bank Trust Department grew its stake in shares of Pfizer by 0.9% during the second quarter. Citizens National Bank Trust Department now owns 46,103 shares of the biopharmaceutical company's stock valued at $1,118,000 after acquiring an additional 395 shares in the last quarter. Trust Co of the South grew its stake in shares of Pfizer by 1.5% during the second quarter. Trust Co of the South now owns 29,386 shares of the biopharmaceutical company's stock valued at $712,000 after acquiring an additional 441 shares in the last quarter. Charter Oak Capital Management LLC grew its stake in shares of Pfizer by 4.3% during the second quarter. Charter Oak Capital Management LLC now owns 10,663 shares of the biopharmaceutical company's stock valued at $258,000 after acquiring an additional 444 shares in the last quarter. Finally, Ballentine Partners LLC grew its stake in shares of Pfizer by 0.5% during the second quarter. Ballentine Partners LLC now owns 93,228 shares of the biopharmaceutical company's stock valued at $2,260,000 after acquiring an additional 458 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company's stock.

Pfizer Trading Down 0.7%

NYSE PFE opened at $24.22 on Friday. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $29.53. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.16. The stock has a market cap of $137.70 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 0.81 and a beta of 0.55. The firm's 50 day moving average price is $24.89 and its two-hundred day moving average price is $24.12.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.20. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The firm had revenue of $14.65 billion for the quarter, compared to analysts' expectations of $13.43 billion. During the same period in the previous year, the company posted $0.60 EPS. The company's quarterly 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. Equities analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Friday, November 7th. Pfizer's payout ratio is currently 91.49%.

Wall Street Analyst Weigh In

PFE has been the subject of several recent analyst reports. Citigroup raised their target price on Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Pfizer in a research report on Wednesday, October 8th. Morgan Stanley cut their target price on shares of Pfizer from $33.00 to $32.00 and set an "equal weight" rating on the stock in a report on Friday, October 10th. UBS Group reissued a "neutral" rating and issued a $28.00 target price on shares of Pfizer in a report on Wednesday, October 1st. Finally, Wall Street Zen lowered shares of Pfizer from a "buy" rating to a "hold" rating in a research note on Sunday, September 28th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Pfizer presently has a consensus rating of "Hold" and an average price target of $28.13.

Pfizer Company Profile

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.

Want to see what other hedge funds are holding PFE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pfizer Inc. (NYSE:PFE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.