Bridgeway Capital Management LLC Raises Stake in Pfizer Inc. $PFE

Key Points

• Bridgeway Capital Management LLC increased its stake in Pfizer Inc. by 8.5%, owning 753,919 shares valued at $19.1 million following a purchase of over 58,000 additional shares.
• Several institutional investors, including Vanguard Group Inc. and Amundi, have also recently increased their holdings in Pfizer, contributing to the company's 68.36% institutional ownership.
• Pfizer's latest earnings report beat analysts' estimates, with a reported EPS of $0.78 and revenues of $14.65 billion, leading to positive revisions in price targets from major brokerages.

Bridgeway Capital Management LLC boosted its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 8.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 753,919 shares of the biopharmaceutical company's stock after purchasing an additional 58,916 shares during the quarter. Bridgeway Capital Management LLC's holdings in Pfizer were worth $19,104,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

A number of brokerages have weighed in on PFE. Morgan Stanley lifted their price target on shares of Pfizer from $32.00 to $33.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Citigroup lifted their price target on shares of Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Jefferies Financial Group lifted their price target on shares of Pfizer from $32.00 to $33.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. HSBC reduced their price target on shares of Pfizer from $27.00 to $26.00 and set a "buy" rating on the stock in a research report on Monday, May 19th. Finally, Bank of America lifted their price target on shares of Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Two equities research 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, Pfizer currently has an average rating of "Hold" and a consensus target price of $28.12.

Pfizer Trading Up 0.7%

NYSE PFE opened at $24.94 on Wednesday. The company's fifty day simple moving average is $24.82 and its 200-day simple moving average is $24.37. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $30.43. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The stock has a market cap of $141.77 billion, a P/E ratio of 13.26, a PEG ratio of 0.88 and a beta of 0.55.

Pfizer (NYSE:PFE - Get Free Report) last posted its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 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 for the quarter, compared to analysts' expectations of $13.43 billion. During the same period in the previous year, the company posted $0.60 earnings per share. The business'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. Equities research analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend was Friday, July 25th. Pfizer's payout ratio is presently 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.

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.