D.A. Davidson & CO. Buys 1,130,014 Shares of Pfizer Inc. $PFE

Key Points

• D.A. Davidson & CO. increased its ownership of Pfizer Inc. by 58.3%, acquiring an additional 1,130,014 shares, bringing their total to 3,068,515 shares valued at approximately $74.38 million.
• Pfizer's recent quarterly earnings exceeded expectations with $0.78 earnings per share and revenue of $14.65 billion, surpassing analyst predictions.
• The company has declared a quarterly dividend of $0.43, with a dividend yield of 6.9%, set to be paid on December 1st to investors of record on November 7th.

D.A. Davidson & CO. lifted its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 58.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,068,515 shares of the biopharmaceutical company's stock after buying an additional 1,130,014 shares during the period. D.A. Davidson & CO. owned approximately 0.05% of Pfizer worth $74,381,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. GKV Capital Management Co. Inc. purchased a new stake in shares of Pfizer during the first quarter valued at approximately $27,000. North Capital Inc. bought a new stake in Pfizer during the 1st quarter valued at $28,000. Bayforest Capital Ltd purchased a new stake in Pfizer during the 1st quarter valued at $28,000. Harbor Asset Planning Inc. bought a new stake in Pfizer in the 2nd quarter worth $29,000. Finally, Horizon Financial Services LLC purchased a new position in shares of Pfizer in the first quarter valued at about $35,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Up 0.6%

Shares of NYSE:PFE opened at $24.84 on Wednesday. The firm has a market capitalization of $141.23 billion, a P/E ratio of 13.21, a P/E/G ratio of 0.82 and a beta of 0.55. 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 stock has a 50 day moving average price of $24.89 and a 200-day moving average price of $24.13. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $29.17.

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

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Friday, November 7th. Pfizer's dividend payout ratio (DPR) is presently 91.49%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PFE shares. Wall Street Zen lowered shares of Pfizer from a "buy" rating to a "hold" rating in a report on Sunday, September 28th. Morgan Stanley dropped their price objective on 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 boosted their target price on Pfizer from $28.00 to $30.00 and gave the company a "neutral" rating in a research note on Friday, October 3rd. Citigroup raised their price target on Pfizer from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Finally, UBS Group reiterated a "neutral" rating and issued a $28.00 price target on shares of Pfizer in a report on Wednesday, October 1st. Two 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 given a Sell rating to the company. According to data from MarketBeat.com, Pfizer currently has a consensus rating of "Hold" and an average target price of $28.13.

About Pfizer

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.