Bourne Lent Asset Management Inc. Buys 18,200 Shares of Pfizer Inc. $PFE

Key Points

• Bourne Lent Asset Management Inc. increased its stake in Pfizer by 90.8%, acquiring an additional 18,200 shares to own a total of 38,255 shares valued at approximately $927,000.
• Pfizer's stock has a 52-week low of $20.92 and a high of $30.43, with a current market capitalization of $135.94 billion.
• The company reported earnings per share of $0.78 for the last quarter, significantly exceeding analysts' expectations of $0.58, and also announced a quarterly dividend of $0.43.

Bourne Lent Asset Management Inc. increased its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 90.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,255 shares of the biopharmaceutical company's stock after acquiring an additional 18,200 shares during the quarter. Bourne Lent Asset Management Inc.'s holdings in Pfizer were worth $927,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Pfizer by 0.9% during the first quarter. Vanguard Group Inc. now owns 523,165,127 shares of the biopharmaceutical company's stock worth $13,257,004,000 after acquiring an additional 4,629,976 shares in the last quarter. Northern Trust Corp boosted its stake in Pfizer by 6.8% during the first quarter. Northern Trust Corp now owns 62,325,957 shares of the biopharmaceutical company's stock worth $1,579,340,000 after acquiring an additional 3,943,397 shares in the last quarter. Amundi lifted its stake in shares of Pfizer by 43.4% in the first quarter. Amundi now owns 52,090,403 shares of the biopharmaceutical company's stock valued at $1,265,277,000 after buying an additional 15,758,846 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Pfizer by 3.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 39,402,619 shares of the biopharmaceutical company's stock valued at $1,045,351,000 after buying an additional 1,333,740 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Pfizer by 2.8% in the first quarter. Invesco Ltd. now owns 30,296,337 shares of the biopharmaceutical company's stock valued at $767,709,000 after buying an additional 838,198 shares in the last quarter. 68.36% of the stock is owned by institutional investors.

Pfizer Stock Performance

NYSE PFE opened at $23.91 on Monday. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $30.43. The company has a 50-day simple moving average of $24.79 and a 200 day simple moving average of $24.27. 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 company has a market capitalization of $135.94 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 0.85 and a beta of 0.55.

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 (EPS) for the quarter, topping 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 business had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $13.43 billion. During the same quarter last year, the company posted $0.60 earnings per share. The firm'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. On average, research analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Dividend Announcement

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

Wall Street Analyst Weigh In

PFE has been the topic of a number of recent research reports. Jefferies Financial Group raised their price objective on shares of Pfizer from $32.00 to $33.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Bank of America raised their price objective on shares of Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Berenberg Bank lowered their target price on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating for the company in a report on Thursday, May 29th. Citigroup increased their target price on shares of Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Finally, HSBC decreased their price objective on shares of Pfizer from $27.00 to $26.00 and set a "buy" rating for the company in a report on Monday, May 19th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Pfizer currently has an average rating of "Hold" and an average target price of $28.12.

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.