Northern Trust Corp Grows Position in Pfizer Inc. $PFE

Key Points

• Northern Trust Corp increased its stake in Pfizer Inc. by 6.8%, acquiring an additional 3.94 million shares during the first quarter, bringing its total to over 62 million shares valued at approximately $1.58 billion.
• Pfizer recently reported earnings of $0.78 per share, exceeding expectations of $0.58, along with revenues of $14.65 billion, surpassing the predicted $13.43 billion.
• The company announced a quarterly dividend of $0.43 per share, resulting in an annualized dividend of $1.72 and a yield of 6.8%.

Northern Trust Corp increased its position in Pfizer Inc. (NYSE:PFE - Free Report) by 6.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,325,957 shares of the biopharmaceutical company's stock after acquiring an additional 3,943,397 shares during the period. Northern Trust Corp owned approximately 1.10% of Pfizer worth $1,579,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. grew its position in Pfizer by 11.1% during the first quarter. Bessemer Group Inc. now owns 132,478 shares of the biopharmaceutical company's stock valued at $3,358,000 after buying an additional 13,228 shares during the period. Capital Advisors Inc. OK lifted its holdings in Pfizer by 1.2% in the 1st quarter. Capital Advisors Inc. OK now owns 1,413,472 shares of the biopharmaceutical company's stock valued at $35,817,000 after purchasing an additional 17,032 shares in the last quarter. CHURCHILL MANAGEMENT Corp acquired a new position in Pfizer during the first quarter worth about $8,283,000. Alta Advisers Ltd grew its position in shares of Pfizer by 69.6% in the first quarter. Alta Advisers Ltd now owns 31,912 shares of the biopharmaceutical company's stock valued at $809,000 after purchasing an additional 13,100 shares in the last quarter. Finally, WCM Investment Management LLC increased its stake in shares of Pfizer by 8.7% in the 1st quarter. WCM Investment Management LLC now owns 125,964 shares of the biopharmaceutical company's stock worth $3,176,000 after acquiring an additional 10,051 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company's stock.

Pfizer Price Performance

PFE stock opened at $25.16 on Monday. 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 Inc. has a 1 year low of $20.92 and a 1 year high of $30.43. The stock's 50 day moving average price is $24.60 and its 200 day moving average price is $24.42. The firm has a market cap of $143.05 billion, a P/E ratio of 13.38, a PEG ratio of 0.89 and a beta of 0.52.

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 (EPS) for the quarter, topping the consensus estimate 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 business's revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 earnings per share. On average, sell-side analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, July 25th 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 of this dividend is Friday, July 25th. Pfizer's dividend payout ratio (DPR) is 91.49%.

Wall Street Analyst Weigh In

Several analysts have recently commented on PFE shares. Bank of America lifted their price target 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 target on Pfizer from $32.00 to $33.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. HSBC lowered their price target on Pfizer from $27.00 to $26.00 and set a "buy" rating for the company in a report on Monday, May 19th. Redburn Atlantic cut their target price on Pfizer from $29.00 to $27.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Finally, Wolfe Research increased their price target on shares of Pfizer from $22.00 to $23.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $28.12.

Pfizer Profile

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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