NorthRock Partners LLC Buys 18,323 Shares of Pfizer Inc. $PFE

Key Points

• NorthRock Partners LLC increased its stake in Pfizer Inc. by 37.9%, acquiring an additional 18,323 shares, bringing its total holdings to 66,651 shares valued at approximately $1.62 million.
• Several research analysts have issued mixed ratings for Pfizer, with price targets ranging from $26.00 to $32.00; the stock currently carries an average rating of "Hold" and a target price of $28.35.
• Pfizer announced a quarterly dividend of $0.43 per share, with a yield of 7.0%, set to be paid on December 1, 2023, for shareholders on record as of November 7, 2023.

NorthRock Partners LLC lifted its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 37.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 66,651 shares of the biopharmaceutical company's stock after acquiring an additional 18,323 shares during the quarter. NorthRock Partners LLC's holdings in Pfizer were worth $1,616,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on PFE shares. Morgan Stanley dropped their price target on Pfizer from $33.00 to $32.00 and set an "equal weight" rating for the company in a research note on Friday. UBS Group reaffirmed a "neutral" rating and set a $28.00 price objective on shares of Pfizer in a report on Wednesday, October 1st. Wall Street Zen cut Pfizer from a "buy" rating to a "hold" rating in a report on Sunday, September 28th. Citigroup upped their price objective on Pfizer from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Pfizer in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $28.35.

Pfizer Stock Performance

NYSE:PFE opened at $24.72 on Tuesday. The stock's fifty day moving average is $24.88 and its 200 day moving average is $24.12. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $29.82. The firm has a market capitalization of $140.52 billion, a PE ratio of 13.15, a PEG ratio of 0.82 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 released its quarterly 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 return on equity of 21.42% and a net margin of 16.84%.The company had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. During the same quarter in the prior year, the firm posted $0.60 EPS. Pfizer's quarterly revenue was up 10.3% compared to the same quarter last year. 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 earnings per share for the current year.

Pfizer Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Friday, November 7th. Pfizer's dividend payout ratio is 91.49%.

Pfizer Company 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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