NewEdge Advisors LLC Buys 48,329 Shares of Pfizer Inc. $PFE

Key Points

• NewEdge Advisors LLC increased its stake in Pfizer Inc. by 11.7%, acquiring an additional 48,329 shares during the latest quarter, bringing its total holdings to 462,884 shares valued at approximately $11.73 million.
• Pfizer reported strong financial results, with earnings per share of $0.78, surpassing expectations, and revenue of $14.65 billion, reflecting a 10.3% year-over-year increase.
• The company announced a quarterly dividend of $0.43 per share, yielding 6.9%, and indicated a fiscal year 2025 EPS guidance in the range of 2.900-3.100.

NewEdge Advisors LLC raised its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 462,884 shares of the biopharmaceutical company's stock after acquiring an additional 48,329 shares during the period. NewEdge Advisors LLC's holdings in Pfizer were worth $11,729,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Pfizer by 1.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,111,292 shares of the biopharmaceutical company's stock valued at $28,154,000 after acquiring an additional 20,518 shares in the last quarter. Investmark Advisory Group LLC raised its stake in shares of Pfizer by 15.5% during the 1st quarter. Investmark Advisory Group LLC now owns 95,608 shares of the biopharmaceutical company's stock worth $2,423,000 after purchasing an additional 12,852 shares during the period. Gotham Asset Management LLC raised its stake in shares of Pfizer by 204.1% during the 1st quarter. Gotham Asset Management LLC now owns 428,965 shares of the biopharmaceutical company's stock worth $10,870,000 after purchasing an additional 287,925 shares during the period. Hancock Whitney Corp raised its stake in shares of Pfizer by 32.8% during the 1st quarter. Hancock Whitney Corp now owns 152,313 shares of the biopharmaceutical company's stock worth $3,860,000 after purchasing an additional 37,646 shares during the period. Finally, Clark Capital Management Group Inc. raised its stake in shares of Pfizer by 3.1% during the 1st quarter. Clark Capital Management Group Inc. now owns 32,032 shares of the biopharmaceutical company's stock worth $812,000 after purchasing an additional 978 shares during the period. 68.36% of the stock is currently owned by institutional investors.

Pfizer Trading Up 1.3%

Shares of Pfizer stock opened at $24.86 on Friday. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $30.43. The stock's 50-day simple moving average is $24.85 and its 200 day simple moving average is $24.35. The stock has a market capitalization of $141.31 billion, a P/E ratio of 13.22, a P/E/G ratio of 0.88 and a beta of 0.55. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.16.

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

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend was Friday, July 25th. Pfizer's payout ratio is presently 91.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Bank of America lifted their target price on Pfizer from $27.00 to $28.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Berenberg Bank lowered their target price on Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a research note on Thursday, May 29th. HSBC lowered their target price on Pfizer from $27.00 to $26.00 and set a "buy" rating on the stock in a research note on Monday, May 19th. Citigroup boosted their price objective on Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Finally, Morgan Stanley boosted their price objective on Pfizer from $32.00 to $33.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Pfizer has a consensus rating of "Hold" and a consensus price target of $28.12.

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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