AssuredPartners Investment Advisors LLC Sells 13,039 Shares of Pfizer Inc. $PFE

Key Points

• AssuredPartners Investment Advisors LLC has decreased its holdings in Pfizer Inc. by 21.4% in the second quarter, now owning 47,930 shares valued at approximately $1.16 million.
• Pfizer recently announced a quarterly dividend of $0.43 per share, with an annualized rate of $1.72 and a yield of 7.1%.
• The biopharmaceutical company reported strong earnings, with $0.78 earnings per share for the last quarter, exceeding expectations and reflecting a year-over-year revenue increase of 10.3%.

AssuredPartners Investment Advisors LLC cut its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 21.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,930 shares of the biopharmaceutical company's stock after selling 13,039 shares during the period. AssuredPartners Investment Advisors LLC's holdings in Pfizer were worth $1,162,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. grew its holdings in shares of Pfizer by 11.1% in the first quarter. Bessemer Group Inc. now owns 132,478 shares of the biopharmaceutical company's stock valued at $3,358,000 after acquiring an additional 13,228 shares in the last quarter. Capital Advisors Inc. OK lifted its stake in Pfizer by 1.2% in the first quarter. Capital Advisors Inc. OK now owns 1,413,472 shares of the biopharmaceutical company's stock valued at $35,817,000 after purchasing an additional 17,032 shares during the last quarter. CHURCHILL MANAGEMENT Corp purchased a new position in Pfizer in the first quarter valued at approximately $8,283,000. Westbourne Investments Inc. purchased a new position in Pfizer in the first quarter valued at approximately $2,411,000. Finally, Bourne Lent Asset Management Inc. lifted its stake in Pfizer by 90.8% in the second quarter. Bourne Lent Asset Management Inc. now owns 38,255 shares of the biopharmaceutical company's stock valued at $927,000 after purchasing an additional 18,200 shares during the last quarter. 68.36% of the stock is owned by institutional investors.

Pfizer Trading Down 0.7%

Pfizer stock opened at $24.22 on Friday. The stock has a market cap of $137.70 billion, a P/E ratio of 12.88, a PEG ratio of 0.81 and a beta of 0.55. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $29.53. The firm's fifty day moving average price is $24.89 and its 200-day moving average price is $24.12. 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 (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 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 quarter in the prior year, the firm posted $0.60 earnings per share. The business's quarterly revenue was up 10.3% on a year-over-year basis. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. Equities research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, November 7th. This represents a $1.72 dividend on an annualized basis and a yield of 7.1%. Pfizer's dividend payout ratio (DPR) is presently 91.49%.

Wall Street Analysts Forecast Growth

PFE has been the topic of several research analyst reports. Morgan Stanley dropped their price objective on Pfizer from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research note on Friday, October 10th. Citigroup upped their price objective on Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Bank of America upped their price objective on Pfizer from $28.00 to $30.00 and gave the company a "neutral" rating in a research note on Friday, October 3rd. Wall Street Zen downgraded Pfizer from a "buy" rating to a "hold" rating in a research report on Sunday, September 28th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Pfizer in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $28.13.

Pfizer 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.

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