Beacon Financial Group Sells 13,403 Shares of Pfizer Inc. $PFE

Key Points

• Beacon Financial Group reduced its holdings in Pfizer Inc. by 9.1% in the second quarter, selling 13,403 shares and retaining a total of 133,120 shares worth approximately $3.2 million.
• Several hedge funds increased their investments in Pfizer, with Trust Co of the South raising its stake by 1.5% during the same period.
• Pfizer reported an EPS of $0.78 for the last quarter, surpassing expectations by $0.20 and noted a 10.3% increase in revenue compared to the previous year.

Beacon Financial Group lessened its position in Pfizer Inc. (NYSE:PFE - Free Report) by 9.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,120 shares of the biopharmaceutical company's stock after selling 13,403 shares during the period. Beacon Financial Group's holdings in Pfizer were worth $3,227,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Trust Co of the South lifted its holdings in Pfizer by 1.5% in 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 during the period. William B. Walkup & Associates Inc. lifted its holdings in Pfizer by 1.2% in the fourth quarter. William B. Walkup & Associates Inc. now owns 39,368 shares of the biopharmaceutical company's stock valued at $1,044,000 after acquiring an additional 454 shares during the period. Members Trust Co raised its stake in shares of Pfizer by 2.1% during the 1st quarter. Members Trust Co now owns 23,175 shares of the biopharmaceutical company's stock worth $587,000 after buying an additional 467 shares during the period. Sutton Place Investors LLC raised its stake in shares of Pfizer by 5.6% during the 1st quarter. Sutton Place Investors LLC now owns 8,833 shares of the biopharmaceutical company's stock worth $224,000 after buying an additional 472 shares during the period. Finally, MSH Capital Advisors LLC raised its stake in shares of Pfizer by 1.4% during the 1st quarter. MSH Capital Advisors LLC now owns 34,585 shares of the biopharmaceutical company's stock worth $876,000 after buying an additional 485 shares during the period. Institutional investors own 68.36% of the company's stock.

Analysts Set New Price Targets

PFE has been the subject of several research analyst reports. Morgan Stanley upped their target price on Pfizer from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Jefferies Financial Group upped their target price on Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. HSBC dropped their price target on Pfizer from $27.00 to $26.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Bank of America boosted their price target on Pfizer from $27.00 to $28.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Finally, Berenberg Bank dropped their price target on Pfizer from $28.00 to $25.00 and set a "hold" rating for the company in a research report on Thursday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $28.12.

Pfizer Price Performance

PFE stock opened at $23.98 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.85. The firm has a market capitalization of $136.34 billion, a P/E ratio of 12.76, a P/E/G ratio of 0.85 and a beta of 0.55. The business's 50-day moving average is $24.76 and its two-hundred day moving average is $24.25. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $30.43.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly 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 return on equity of 21.42% and a net margin of 16.84%.The company had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. During the same quarter last year, the company earned $0.60 EPS. Pfizer's revenue for the quarter was up 10.3% compared to the same quarter last year. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. Analysts anticipate that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, July 25th. This represents a $1.72 annualized dividend and a yield of 7.2%. Pfizer's payout ratio is 91.49%.

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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