Allstate Corp Grows Holdings in Pfizer Inc. $PFE

Key Points

• Allstate Corp significantly increased its holdings in Pfizer Inc., growing its investment by 32.3% in the first quarter, bringing its total to 222,263 shares valued at approximately $5.63 million.
• Multiple institutional investors also raised their stakes in Pfizer, with Brighton Jones LLC leading with a dramatic 1,282.4% increase in their share ownership during the fourth quarter.
• Despite mixed forecasts from analysts, Pfizer's stock showed slight growth, opening at $25.71 recently, with a reported earnings per share of $0.78, outpacing estimates by $0.20.

Allstate Corp grew its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 32.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 222,263 shares of the biopharmaceutical company's stock after acquiring an additional 54,287 shares during the period. Allstate Corp's holdings in Pfizer were worth $5,632,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PFE. Brighton Jones LLC raised its holdings in Pfizer by 1,282.4% in the fourth quarter. Brighton Jones LLC now owns 666,318 shares of the biopharmaceutical company's stock valued at $17,677,000 after acquiring an additional 618,117 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Pfizer by 12.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 18,766 shares of the biopharmaceutical company's stock worth $498,000 after purchasing an additional 2,087 shares during the last quarter. MGO One Seven LLC lifted its position in shares of Pfizer by 1.9% during the fourth quarter. MGO One Seven LLC now owns 112,238 shares of the biopharmaceutical company's stock worth $2,978,000 after purchasing an additional 2,050 shares during the last quarter. Syon Capital LLC lifted its position in shares of Pfizer by 2.0% during the fourth quarter. Syon Capital LLC now owns 48,619 shares of the biopharmaceutical company's stock worth $1,290,000 after purchasing an additional 973 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in Pfizer by 43.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,382,383 shares of the biopharmaceutical company's stock worth $63,205,000 after purchasing an additional 722,047 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Leerink Partners reduced their target price on Pfizer from $28.00 to $26.00 and set a "market perform" rating on the stock in a report on Wednesday, April 30th. Berenberg Bank reduced their price objective on Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a research note on Thursday, May 29th. Morgan Stanley boosted their target price on shares of Pfizer from $32.00 to $33.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. UBS Group raised their price target 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. Finally, Wolfe Research boosted their price objective on shares of Pfizer from $22.00 to $23.00 and gave the company an "underperform" rating in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Pfizer has an average rating of "Hold" and a consensus target price of $28.12.

Pfizer Stock Up 1.3%

Pfizer stock opened at $25.7060 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.16. Pfizer Inc. has a one year low of $20.92 and a one year high of $30.43. The company has a 50-day simple moving average of $24.68 and a 200-day simple moving average of $24.42. The firm has a market capitalization of $146.15 billion, a P/E ratio of 13.67, a P/E/G ratio of 0.90 and a beta of 0.52.

Pfizer (NYSE:PFE - Get Free Report) last posted its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $13.43 billion. During the same period in the previous year, the business posted $0.60 EPS. Pfizer's revenue was up 10.3% on a year-over-year basis. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. As a group, equities analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.72 annualized dividend and a yield of 6.7%. Pfizer's payout ratio is presently 91.49%.

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.

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