KLP Kapitalforvaltning AS Purchases 289,900 Shares of Pfizer Inc. $PFE

Key Points

• KLP Kapitalforvaltning AS increased its stake in Pfizer by 10.7%, acquiring an additional 289,900 shares during the second quarter, bringing its total holdings to approximately 3 million shares worth $72.9 million.
• Pfizer reported earnings of $0.78 per share for the last quarter, surpassing analysts' expectations and reflecting a 10.3% year-over-year revenue growth to $14.65 billion.
• Research analysts maintain a mostly neutral outlook on Pfizer, with an average target price of $28.41, and ratings ranging from "Strong Buy" to "Sell."

KLP Kapitalforvaltning AS lifted its position in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 10.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,007,432 shares of the biopharmaceutical company's stock after acquiring an additional 289,900 shares during the period. KLP Kapitalforvaltning AS owned approximately 0.05% of Pfizer worth $72,900,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PFE. GKV Capital Management Co. Inc. acquired a new position in Pfizer during the 1st quarter worth approximately $27,000. North Capital Inc. acquired a new position in Pfizer during the 1st quarter worth approximately $28,000. Bayforest Capital Ltd acquired a new position in Pfizer during the 1st quarter worth approximately $28,000. Horizon Financial Services LLC acquired a new position in Pfizer during the 1st quarter worth approximately $35,000. Finally, WPG Advisers LLC acquired a new position in Pfizer during the 1st quarter worth approximately $35,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Price Performance

PFE stock opened at $26.45 on Tuesday. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $30.43. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.16. The company has a fifty day moving average price of $24.72 and a 200-day moving average price of $24.12. The company has a market capitalization of $150.38 billion, a P/E ratio of 14.07, a PEG ratio of 0.88 and a beta of 0.55.

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. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The company had revenue of $14.65 billion during the quarter, compared to analysts' expectations of $13.43 billion. During the same period in the prior year, the company posted $0.60 earnings per share. Pfizer's revenue for the quarter was up 10.3% compared to the same quarter last year. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. As a group, equities analysts expect that Pfizer Inc. will post 2.95 EPS for the current year.

Wall Street Analyst Weigh In

PFE has been the subject of a number of research analyst reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Pfizer in a research report on Saturday, September 27th. Citigroup upped their price objective on shares of Pfizer from $25.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Bank of America raised 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. Wall Street Zen downgraded shares of Pfizer from a "buy" rating to a "hold" rating in a research note on Sunday, September 28th. 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 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 company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average 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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