Corebridge Financial Inc. Sells 38,513 Shares of Pfizer Inc. $PFE

Key Points

• Corebridge Financial Inc. has reduced its stake in Pfizer Inc. by 3.0%, selling 38,513 shares during the 1st quarter, leaving them with 1,263,938 shares worth approximately $32 million.
• Pfizer recently reported earnings with $0.78 EPS, surpassing analyst forecasts, and has set a fiscal year 2025 guidance of 2.900-3.100 EPS.
• The company announced a quarterly dividend of $0.43 per share, reflecting a significant dividend yield of 6.7% based on its recent performance.

Corebridge Financial Inc. trimmed its position in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 3.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,263,938 shares of the biopharmaceutical company's stock after selling 38,513 shares during the period. Corebridge Financial Inc.'s holdings in Pfizer were worth $32,028,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Clarity Asset Management Inc. bought a new stake in shares of Pfizer during the 4th quarter valued at $27,000. Gould Capital LLC raised its position in shares of Pfizer by 97.2% during the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 493 shares during the period. GKV Capital Management Co. Inc. bought a new stake in shares of Pfizer during the 1st quarter valued at $27,000. Bayforest Capital Ltd purchased a new position in Pfizer during the first quarter valued at $28,000. Finally, North Capital Inc. purchased a new position in Pfizer during the first quarter valued at $28,000. 68.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Jefferies Financial Group raised their target price 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. UBS Group raised their target price on shares of Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Citigroup raised their target price on shares of Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Leerink Partners cut their target price on shares of Pfizer from $28.00 to $26.00 and set a "market perform" rating for the company in a research note on Wednesday, April 30th. Finally, Morgan Stanley raised their target price on shares of Pfizer from $32.00 to $33.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $28.12.

Pfizer Stock Performance

Shares of NYSE:PFE opened at $25.8250 on Monday. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $30.43. The stock has a market capitalization of $146.83 billion, a P/E ratio of 13.74, a PEG ratio of 0.92 and a beta of 0.52. The firm has a fifty day simple moving average of $24.70 and a two-hundred day simple moving average of $24.39. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.20. The business had revenue of $14.65 billion during the quarter, compared to analysts' expectations of $13.43 billion. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The business's revenue was up 10.3% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. On average, analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 6.7%. The ex-dividend date is Friday, July 25th. Pfizer's dividend payout ratio (DPR) is 91.49%.

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.

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