Cullen Capital Management LLC Reduces Stake in Pfizer Inc. $PFE

Key Points

• Cullen Capital Management reduced its Pfizer stake by 9.1% in the second quarter, selling 246,307 shares and retaining 2.45 million shares valued at approximately $58.9 million.
• Pfizer reported quarterly earnings of $0.77 per share, exceeding the $0.68 analyst consensus, while revenue reached $15.03 billion, up 2.6% year over year.
• Pfizer declared a quarterly dividend of $0.43 per share, representing a 6.1% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $28.28.

Cullen Capital Management LLC cut its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 9.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,447,200 shares of the biopharmaceutical company's stock after selling 246,307 shares during the quarter. Cullen Capital Management LLC's holdings in Pfizer were worth $58,929,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its holdings in Pfizer by 6.3% in the 2nd quarter. BlackRock Inc. now owns 529,670,433 shares of the biopharmaceutical company's stock valued at $12,754,464,000 after purchasing an additional 31,412,883 shares during the last quarter. State Street Corp increased its holdings in shares of Pfizer by 0.5% during the 4th quarter. State Street Corp now owns 300,445,164 shares of the biopharmaceutical company's stock worth $7,481,085,000 after buying an additional 1,357,756 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Pfizer by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 130,192,081 shares of the biopharmaceutical company's stock valued at $3,235,642,000 after buying an additional 1,184,728 shares during the period. Morgan Stanley lifted its holdings in Pfizer by 19.2% in the fourth quarter. Morgan Stanley now owns 89,113,604 shares of the biopharmaceutical company's stock valued at $2,218,929,000 after acquiring an additional 14,342,946 shares during the last quarter. Finally, Norges Bank acquired a new position in Pfizer in the fourth quarter valued at approximately $1,830,986,000. Hedge funds and other institutional investors own 68.36% of the company's stock.

Pfizer Stock Down 0.4%

NYSE:PFE opened at $27.97 on Tuesday. Pfizer Inc. has a 52 week low of $23.58 and a 52 week high of $28.75. The stock's fifty day moving average is $25.34 and its two-hundred day moving average is $26.26. The stock has a market capitalization of $159.41 billion, a price-to-earnings ratio of 36.80 and a beta of 0.34. The company has a quick ratio of 0.96, a current ratio of 1.27 and a debt-to-equity ratio of 0.71.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The biopharmaceutical company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.09. The business had revenue of $15.03 billion during the quarter, compared to analysts' expectations of $14.40 billion. Pfizer had a return on equity of 19.63% and a net margin of 6.80%.The company's revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. Pfizer has set its FY 2026 guidance at 2.800-3.000 EPS. Research analysts anticipate that Pfizer Inc. will post 2.98 EPS for the current year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, July 24th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, July 24th. This represents a $1.72 dividend on an annualized basis and a yield of 6.1%. Pfizer's dividend payout ratio is 226.32%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Cantor Fitzgerald reissued a "neutral" rating and set a $27.00 target price on shares of Pfizer in a research note on Monday, July 6th. Guggenheim decreased their price target on Pfizer from $35.00 to $31.00 and set a "buy" rating on the stock in a research note on Friday, August 7th. Weiss Ratings cut Pfizer from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, August 17th. Citigroup raised their price objective on Pfizer from $26.00 to $27.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 29th. Finally, Wolfe Research reaffirmed an "underperform" rating and issued a $26.00 target price on shares of Pfizer in a research report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Pfizer presently has a consensus rating of "Hold" and an average target price of $28.28.

Pfizer Profile

Pfizer Inc NYSE: PFE is a multinational biopharmaceutical company headquartered in New York City. Founded in 1849 by Charles Pfizer and Charles Erhart, the company researches, develops, manufactures and commercializes a broad range of medicines and vaccines for human health. Its activities span discovery research, clinical development, regulatory affairs, manufacturing and global commercial distribution across multiple therapeutic areas.

Pfizer's portfolio and pipeline cover oncology, immunology, cardiology, endocrinology, rare diseases, hospital acute care and anti-infectives, along with a substantial vaccine business.

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