DnB Asset Management AS Sells 700,670 Shares of Pfizer Inc. $PFE

Key Points

• DnB Asset Management AS sold 700,670 shares of Pfizer Inc., reducing its stake by 37.0% during the first quarter of the year, leaving it with 1,192,726 shares valued at approximately $30.2 million.
• Shares of Pfizer have seen a 1.1% decrease, with the stock trading at $24.51 and a market capitalization of $139.32 billion.
• Pfizer recently reported earnings of $0.78 per share, surpassing estimates, while also announcing a quarterly dividend of $0.43 with a yield of 7.0%.

DnB Asset Management AS reduced its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 37.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,192,726 shares of the biopharmaceutical company's stock after selling 700,670 shares during the quarter. DnB Asset Management AS's holdings in Pfizer were worth $30,224,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Clarity Asset Management Inc. bought a new position in shares of Pfizer in the fourth quarter worth about $27,000. Gould Capital LLC grew its stake 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 acquiring an additional 493 shares during the period. GKV Capital Management Co. Inc. purchased a new stake in Pfizer in the 1st quarter worth approximately $27,000. Bayforest Capital Ltd bought a new stake in Pfizer during the 1st quarter worth approximately $28,000. Finally, North Capital Inc. purchased a new position in Pfizer during the first quarter valued at approximately $28,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Stock Down 1.1%

Shares of PFE stock opened at $24.51 on Friday. The stock has a market cap of $139.32 billion, a P/E ratio of 13.03, a PEG ratio of 0.88 and a beta of 0.55. The company's fifty day simple moving average is $24.83 and its two-hundred day simple moving average is $24.36. 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 Inc. has a 52 week low of $20.92 and a 52 week high of $30.43.

Pfizer (NYSE:PFE - Get Free Report) last issued its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.20. The firm 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 business's revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. Analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th were 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 was Friday, July 25th. Pfizer's dividend payout ratio is 91.49%.

Analysts Set New Price Targets

PFE has been the subject of a number of recent analyst reports. HSBC dropped their price target on shares of Pfizer from $27.00 to $26.00 and set a "buy" rating for the company in a research report on Monday, May 19th. Bank of America upped their target price on shares of Pfizer from $27.00 to $28.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Morgan Stanley raised their price target on Pfizer from $32.00 to $33.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Berenberg Bank lowered their price objective on Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a research report on Thursday, May 29th. Finally, Jefferies Financial Group increased their target price on Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $28.12.

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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