Allstate Corp Sells 107,653 Shares of Pfizer Inc. $PFE

Key Points

• Allstate Corp. reduced its Pfizer stake by 18.1% in the second quarter, selling 107,653 shares and retaining 488,127 shares valued at approximately $11.75 million.
• Pfizer reported quarterly earnings of $0.77 per share and revenue of $15.03 billion, beating analyst expectations. The company also announced a quarterly dividend of $0.43 per share, representing a 6.1% annualized yield.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $28.28; Pfizer shares recently opened at $27.97.

Allstate Corp lessened its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 18.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 488,127 shares of the biopharmaceutical company's stock after selling 107,653 shares during the period. Allstate Corp's holdings in Pfizer were worth $11,754,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Godfrey Financial Associates Inc. purchased a new position in Pfizer in the fourth quarter worth about $26,000. Keb Asset Management LLC purchased a new stake in shares of Pfizer during the second quarter valued at approximately $26,000. HFM Investment Advisors LLC grew its holdings in shares of Pfizer by 61.0% during the fourth quarter. HFM Investment Advisors LLC now owns 1,127 shares of the biopharmaceutical company's stock valued at $28,000 after buying an additional 427 shares during the last quarter. Evolution Wealth Management Inc. increased its position in shares of Pfizer by 132.2% during the first quarter. Evolution Wealth Management Inc. now owns 994 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 566 shares in the last quarter. Finally, Abound Financial LLC purchased a new position in Pfizer in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 68.36% of the company's stock.

Pfizer Price Performance

NYSE PFE opened at $27.97 on Tuesday. The business's fifty day moving average price is $25.34 and its 200-day moving average price is $26.26. The stock has a market capitalization of $159.41 billion, a price-to-earnings ratio of 36.80 and a beta of 0.34. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.27 and a quick ratio of 0.96. Pfizer Inc. has a 1-year low of $23.58 and a 1-year high of $28.75.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.68 by $0.09. The company had revenue of $15.03 billion during the quarter, compared to analyst estimates of $14.40 billion. Pfizer had a return on equity of 19.63% and a net margin of 6.80%.Pfizer's revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 earnings per share. Pfizer has set its FY 2026 guidance at 2.800-3.000 EPS. On average, equities analysts predict that Pfizer Inc. will post 2.98 earnings per share for the current year.

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, July 24th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 6.1%. The ex-dividend date is Friday, July 24th. Pfizer's payout ratio is 226.32%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Pfizer from $30.00 to $28.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 8th. Bank of America reduced their target price on Pfizer from $27.00 to $26.00 and set a "neutral" rating for the company in a report on Friday, July 10th. BMO Capital Markets lowered their price target on Pfizer from $34.00 to $30.00 and set an "outperform" rating on the stock in a report on Monday, July 13th. UBS Group reaffirmed a "neutral" rating and set a $27.00 price target on shares of Pfizer in a report on Wednesday, May 27th. Finally, Guggenheim dropped their price objective on Pfizer from $35.00 to $31.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $28.28.

Pfizer Profile

Pfizer Inc NYSE: PFE is a multinational biopharmaceutical company headquartered in New York City. Founded in 1849 by Charles Pfizer and Charles Erhart, the company researches, develops, manufactures and commercializes a broad range of medicines and vaccines for human health. Its activities span discovery research, clinical development, regulatory affairs, manufacturing and global commercial distribution across multiple therapeutic areas.

Pfizer's portfolio and pipeline cover oncology, immunology, cardiology, endocrinology, rare diseases, hospital acute care and anti-infectives, along with a substantial vaccine business.

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