Interchange Capital Partners LLC Sells 16,356 Shares of Pfizer Inc. $PFE

Key Points

• Interchange Capital Partners LLC significantly reduced its holdings in Pfizer Inc. by 93.8% during the second quarter, leaving it with only 1,075 shares valued at $26,000.
• Wall Street analysts have mixed forecasts for Pfizer, with a consensus rating of "Hold" and a price target of $28.35, while some analysts have downgraded their ratings.
• Pfizer has announced a quarterly dividend of $0.43 per share to be paid on December 1st, representing an annualized yield of 7.1%.

Interchange Capital Partners LLC decreased its holdings in Pfizer Inc. (NYSE:PFE - Free Report) by 93.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,075 shares of the biopharmaceutical company's stock after selling 16,356 shares during the period. Interchange Capital Partners LLC's holdings in Pfizer were worth $26,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Pfizer by 0.9% in the first quarter. Vanguard Group Inc. now owns 523,165,127 shares of the biopharmaceutical company's stock worth $13,257,004,000 after purchasing an additional 4,629,976 shares during the last quarter. Northern Trust Corp lifted its stake in Pfizer by 6.8% in the first quarter. Northern Trust Corp now owns 62,325,957 shares of the biopharmaceutical company's stock worth $1,579,340,000 after purchasing an additional 3,943,397 shares during the last quarter. Amundi lifted its stake in Pfizer by 43.4% in the first quarter. Amundi now owns 52,090,403 shares of the biopharmaceutical company's stock worth $1,265,277,000 after purchasing an additional 15,758,846 shares during the last quarter. Invesco Ltd. lifted its stake in Pfizer by 2.8% in the first quarter. Invesco Ltd. now owns 30,296,337 shares of the biopharmaceutical company's stock worth $767,709,000 after purchasing an additional 838,198 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in Pfizer by 7.0% in the first quarter. Deutsche Bank AG now owns 28,239,197 shares of the biopharmaceutical company's stock worth $715,581,000 after purchasing an additional 1,846,436 shares during the last quarter. Institutional investors own 68.36% of the company's stock.

Wall Street Analysts Forecast Growth

PFE has been the subject of several analyst reports. Morgan Stanley decreased their price objective on shares of Pfizer from $33.00 to $32.00 and set an "equal weight" rating for the company in a research note on Friday, October 10th. Wall Street Zen downgraded shares of Pfizer from a "buy" rating to a "hold" rating in a research note on Sunday, September 28th. Citigroup lifted their price target on shares of Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Bank of America lifted their price target on shares of Pfizer from $28.00 to $30.00 and gave the company a "neutral" rating in a research note on Friday, October 3rd. Finally, UBS Group reaffirmed a "neutral" rating and set a $28.00 price target on shares of Pfizer in a research note 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $28.35.

Pfizer Stock Performance

Shares of PFE stock opened at $24.39 on Thursday. The firm has a market cap of $138.69 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 0.81 and a beta of 0.55. The company's 50 day moving average is $24.89 and its 200 day moving average is $24.13. 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 $29.82.

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 (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.20. The company had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. Pfizer's revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company posted $0.60 earnings per share. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. On average, sell-side analysts anticipate that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend is Friday, November 7th. Pfizer's dividend payout ratio (DPR) is presently 91.49%.

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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