CORDA Investment Management LLC. Raises Stock Position in Pfizer Inc. $PFE

Key Points

• CORDA Investment Management LLC increased its stake in Pfizer Inc. by 6.4% during the 2nd quarter, owning over 1.14 million shares worth approximately $27.7 million.
• Pfizer reported earnings per share of $0.78 for the last quarter, surpassing analysts' expectations of $0.58, and achieved a revenue of $14.65 billion.
• The company announced a quarterly dividend of $0.43 per share to be paid on December 1st, which represents a 7.0% dividend yield.

CORDA Investment Management LLC. grew its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 6.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,143,514 shares of the biopharmaceutical company's stock after purchasing an additional 68,451 shares during the quarter. Pfizer comprises about 2.0% of CORDA Investment Management LLC.'s holdings, making the stock its 24th biggest holding. CORDA Investment Management LLC.'s holdings in Pfizer were worth $27,719,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Pfizer by 0.9% during the 1st 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 during the period. Northern Trust Corp boosted its position in shares of Pfizer by 6.8% during the first 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 in the last quarter. Amundi grew its stake in Pfizer by 43.4% in the first quarter. Amundi now owns 52,090,403 shares of the biopharmaceutical company's stock worth $1,265,277,000 after purchasing an additional 15,758,846 shares during the period. Invesco Ltd. raised its holdings in Pfizer by 2.8% in the first quarter. Invesco Ltd. now owns 30,296,337 shares of the biopharmaceutical company's stock worth $767,709,000 after purchasing an additional 838,198 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Pfizer by 7.0% during the first quarter. Deutsche Bank AG now owns 28,239,197 shares of the biopharmaceutical company's stock valued at $715,581,000 after buying an additional 1,846,436 shares during the period. Institutional investors own 68.36% of the company's stock.

Pfizer Stock Performance

PFE stock opened at $24.52 on Monday. The stock's 50 day simple moving average is $24.89 and its 200 day simple moving average is $24.11. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 12-month low of $20.92 and a 12-month high of $29.36. The stock has a market capitalization of $139.38 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 0.81 and a beta of 0.55.

Pfizer (NYSE:PFE - Get Free Report) last announced 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 firm had revenue of $14.65 billion for the quarter, compared to the consensus estimate of $13.43 billion. During the same period in the prior year, the company posted $0.60 earnings per share. The company'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. As a group, research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend is Friday, November 7th. Pfizer's payout ratio is presently 91.49%.

Analyst Ratings Changes

A number of research firms have recently weighed in on PFE. Wall Street Zen downgraded shares of Pfizer from a "buy" rating to a "hold" rating in a research report on Sunday, September 28th. Citigroup upped their price objective on shares of Pfizer from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Morgan Stanley lowered their target price on shares of Pfizer from $33.00 to $32.00 and set an "equal weight" rating for the company in a report on Friday, October 10th. Bank of America upped their price target on Pfizer from $28.00 to $30.00 and gave the stock a "neutral" rating in a research note on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Pfizer in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price 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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