OLD National Bancorp IN Boosts Holdings in Pfizer Inc. $PFE

Key Points

• OLD National Bancorp IN increased its holdings in Pfizer Inc. by 30.6%, owning 431,934 shares valued at approximately $10.47 million after acquiring an additional 101,198 shares in Q2 2023.
• Analysts have raised their target prices for Pfizer, with Citigroup and Bank of America increasing their targets to $26.00 and $30.00 respectively, maintaining a "neutral" rating based on recent assessments.
• In its latest earnings report, Pfizer exceeded consensus estimates with $0.78 EPS and revenue of $14.65 billion, marking a 10.3% year-over-year revenue growth.

OLD National Bancorp IN boosted its position in Pfizer Inc. (NYSE:PFE - Free Report) by 30.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 431,934 shares of the biopharmaceutical company's stock after buying an additional 101,198 shares during the period. OLD National Bancorp IN's holdings in Pfizer were worth $10,470,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Advisory Group Advisory Services LLC grew its position in Pfizer by 2.9% in the 2nd quarter. Capital Advisory Group Advisory Services LLC now owns 13,542 shares of the biopharmaceutical company's stock valued at $328,000 after buying an additional 388 shares during the last quarter. Trust Co of the South lifted its holdings in Pfizer by 1.5% in the second quarter. Trust Co of the South now owns 29,386 shares of the biopharmaceutical company's stock valued at $712,000 after acquiring an additional 441 shares during the period. Charter Oak Capital Management LLC lifted its holdings in Pfizer by 4.3% in the second quarter. Charter Oak Capital Management LLC now owns 10,663 shares of the biopharmaceutical company's stock valued at $258,000 after acquiring an additional 444 shares during the period. Ballentine Partners LLC lifted its holdings in Pfizer by 0.5% in the second quarter. Ballentine Partners LLC now owns 93,228 shares of the biopharmaceutical company's stock valued at $2,260,000 after acquiring an additional 458 shares during the period. Finally, Members Trust Co lifted its holdings in Pfizer by 2.1% in the first quarter. Members Trust Co now owns 23,175 shares of the biopharmaceutical company's stock valued at $587,000 after acquiring an additional 467 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Citigroup raised their target price on Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Morgan Stanley raised their target price on Pfizer from $32.00 to $33.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Bank of America raised their target price on Pfizer from $28.00 to $30.00 and gave the company a "neutral" rating in a report on Friday. UBS Group reissued a "neutral" rating and issued a $28.00 target price on shares of Pfizer in a report on Wednesday. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Pfizer in a research note on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $28.41.

Pfizer Trading Up 1.1%

NYSE:PFE opened at $27.37 on Friday. The company has a market capitalization of $155.59 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 0.88 and a beta of 0.55. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $30.43. The stock has a fifty day simple moving average of $24.67 and a 200-day simple moving average of $24.14.

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 firm had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $13.43 billion. During the same quarter in the previous year, the company posted $0.60 EPS. The firm'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. On average, equities research analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

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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