InvesTrust Trims Position in Pfizer Inc. $PFE

Key Points

• InvesTrust has significantly reduced its holdings in Pfizer Inc. by 63.8%, now owning 74,813 shares worth approximately $1.81 million.
• Pfizer reported a quarterly earnings per share of $0.78, exceeding analyst estimates, with revenue up 10.3% year-over-year at $14.65 billion.
• Analysts have mixed ratings on Pfizer, with two analysts rating it as a Strong Buy, while the average target price is now set at $28.12.

InvesTrust cut its position in Pfizer Inc. (NYSE:PFE - Free Report) by 63.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,813 shares of the biopharmaceutical company's stock after selling 131,894 shares during the period. InvesTrust's holdings in Pfizer were worth $1,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gould Capital LLC boosted its position in shares of Pfizer by 97.2% during the fourth quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 493 shares during the last quarter. GKV Capital Management Co. Inc. bought a new position in shares of Pfizer during the first quarter worth $27,000. North Capital Inc. bought a new position in shares of Pfizer during the first quarter worth $28,000. Bayforest Capital Ltd bought a new position in shares of Pfizer during the first quarter worth $28,000. Finally, Bernard Wealth Management Corp. bought a new position in shares of Pfizer during the fourth quarter worth $30,000. 68.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PFE. HSBC dropped their target price 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 increased their price objective on shares of Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Jefferies Financial Group increased their price objective on shares of Pfizer from $32.00 to $33.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Berenberg Bank lowered their price objective on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating for the company in a research report on Thursday, May 29th. Finally, Citigroup increased their price objective on shares of Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $28.12.

Pfizer Trading Down 3.8%

Shares of PFE traded down $0.95 during midday trading on Friday, hitting $23.91. The stock had a trading volume of 81,158,118 shares, compared to its average volume of 37,472,864. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $30.43. The firm has a market cap of $135.94 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 0.85 and a beta of 0.55. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.85. The stock's 50 day moving average is $24.79 and its 200 day moving average is $24.27.

Pfizer (NYSE:PFE - Get Free Report) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $13.43 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The business's revenue for the quarter was up 10.3% on a year-over-year basis. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. As a group, analysts forecast that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Dividend Announcement

The business also recently declared 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 of this dividend was Friday, July 25th. Pfizer's dividend payout ratio (DPR) is currently 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.