Pfizer Inc. $PFE Shares Bought by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC increased its stake in Pfizer Inc. by 102.5% during Q2, acquiring 607,732 additional shares, bringing its total holdings to over 1.2 million shares worth approximately $29.1 million.
• Pfizer recently reported Q2 earnings of $0.78 per share, exceeding estimates by $0.20, with revenues of $14.65 billion, surpassing analyst expectations.
• The firm announced a quarterly dividend of $0.43 per share, yielding 7.2%, reflecting a payout ratio of 91.49%.

Exchange Traded Concepts LLC lifted its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 102.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,200,564 shares of the biopharmaceutical company's stock after buying an additional 607,732 shares during the period. Exchange Traded Concepts LLC's holdings in Pfizer were worth $29,102,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Fulton Bank N.A. lifted its position in Pfizer by 24.8% in the second quarter. Fulton Bank N.A. now owns 99,760 shares of the biopharmaceutical company's stock valued at $2,418,000 after purchasing an additional 19,852 shares during the period. Cypress Point Wealth Management LLC acquired a new stake in Pfizer in the second quarter valued at about $284,000. NorthCrest Asset Manangement LLC lifted its position in Pfizer by 17.0% in the second quarter. NorthCrest Asset Manangement LLC now owns 53,103 shares of the biopharmaceutical company's stock valued at $1,348,000 after purchasing an additional 7,712 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Pfizer by 18.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,085,720 shares of the biopharmaceutical company's stock valued at $78,316,000 after purchasing an additional 479,597 shares during the period. Finally, Capital Advisory Group Advisory Services LLC lifted its position in Pfizer by 2.9% in the second quarter. Capital Advisory Group Advisory Services LLC now owns 13,542 shares of the biopharmaceutical company's stock valued at $328,000 after purchasing an additional 388 shares during the period. Institutional investors and hedge funds own 68.36% of the company's stock.

Pfizer Price Performance

Shares of PFE traded down $0.12 during mid-day trading on Friday, reaching $24.03. 86,201,583 shares of the company's stock were exchanged, compared to its average volume of 39,901,288. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65. The company has a 50-day simple moving average of $24.67 and a two-hundred day simple moving average of $24.23. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $30.43. The company has a market cap of $136.62 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 0.85 and a beta of 0.55.

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

Pfizer Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, July 25th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 7.2%. The ex-dividend date was Friday, July 25th. Pfizer's dividend payout ratio is presently 91.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Morgan Stanley raised their price objective on shares of Pfizer from $32.00 to $33.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Bank of America increased their target price on shares of Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Citigroup increased their target price on shares of Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Finally, Berenberg Bank dropped their target price on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating for the company in a report on Thursday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target 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.