IFP Advisors Inc Raises Stake in Pfizer Inc. $PFE

Key Points

• IFP Advisors Inc increased its stake in Pfizer by 6.1% during the second quarter, owning 213,545 shares worth approximately $5.22 million by quarter's end.
• The biopharmaceutical company recently reported $0.78 earnings per share, exceeding analysts' expectations of $0.58, alongside a revenue of $14.65 billion for the quarter.
• Pfizer has announced a quarterly dividend of $0.43, leading to an annualized dividend of $1.72 and a dividend yield of 6.8%, payable to investors on December 1st.

IFP Advisors Inc increased its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 6.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 213,545 shares of the biopharmaceutical company's stock after buying an additional 12,206 shares during the quarter. IFP Advisors Inc's holdings in Pfizer were worth $5,220,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GKV Capital Management Co. Inc. purchased a new stake in Pfizer during the first quarter valued at about $27,000. Bayforest Capital Ltd purchased a new stake in Pfizer during the first quarter valued at about $28,000. North Capital Inc. purchased a new stake in Pfizer during the first quarter valued at about $28,000. WPG Advisers LLC purchased a new stake in Pfizer during the first quarter valued at about $35,000. Finally, Horizon Financial Services LLC purchased a new stake in Pfizer during the first quarter valued at about $35,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Down 1.8%

PFE stock opened at $25.22 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The company's 50 day moving average is $24.83 and its 200 day moving average is $24.14. The stock has a market cap of $143.39 billion, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 0.84 and a beta of 0.55. Pfizer Inc. has a 1-year low of $20.92 and a 1-year high of $30.08.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings data 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 net margin of 16.84% and a return on equity of 21.42%. Pfizer's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. Sell-side analysts predict that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 6.8%. The ex-dividend date is Friday, November 7th. Pfizer's dividend payout ratio is 91.49%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PFE. Morgan Stanley increased their price target on shares of Pfizer from $32.00 to $33.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Bank of America increased their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock a "neutral" rating in a report on Friday, October 3rd. Citigroup increased their price target on shares of Pfizer from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Wall Street Zen downgraded shares of Pfizer from a "buy" rating to a "hold" rating in a report on Sunday, September 28th. Finally, UBS Group reissued a "neutral" rating and issued a $28.00 price target on shares of Pfizer in a report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $28.41.

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.

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