Pfizer Inc. $PFE Shares Sold by Palacios Wealth Management LLC

Key Points

• Palacios Wealth Management LLC significantly reduced its stake in Pfizer by 92.0% in the 2nd quarter, selling 236,422 shares and holding only 20,469 shares valued at approximately $496,000.
• Several analysts have revised their price targets for Pfizer, with Morgan Stanley raising it from $32.00 to $33.00, while Berenberg Bank decreased it from $28.00 to $25.00, indicating mixed sentiments about the stock's future performance.
• Pfizer's recent quarterly earnings report showed an EPS of $0.78, exceeding expectations, along with a revenue increase of 10.3% year-over-year, leading to a solid growth outlook.

Palacios Wealth Management LLC trimmed its position in Pfizer Inc. (NYSE:PFE - Free Report) by 92.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,469 shares of the biopharmaceutical company's stock after selling 236,422 shares during the quarter. Palacios Wealth Management LLC's holdings in Pfizer were worth $496,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Pfizer by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 523,165,127 shares of the biopharmaceutical company's stock valued at $13,257,004,000 after purchasing an additional 4,629,976 shares during the last quarter. Northern Trust Corp grew its position in Pfizer by 6.8% in the 1st quarter. Northern Trust Corp now owns 62,325,957 shares of the biopharmaceutical company's stock valued at $1,579,340,000 after acquiring an additional 3,943,397 shares during the last quarter. Amundi grew its position in Pfizer by 43.4% in the 1st quarter. Amundi now owns 52,090,403 shares of the biopharmaceutical company's stock valued at $1,265,277,000 after acquiring an additional 15,758,846 shares during the last quarter. Invesco Ltd. grew its position in Pfizer by 2.8% in the 1st quarter. Invesco Ltd. now owns 30,296,337 shares of the biopharmaceutical company's stock valued at $767,709,000 after acquiring an additional 838,198 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Pfizer by 7.0% in the first quarter. Deutsche Bank AG now owns 28,239,197 shares of the biopharmaceutical company's stock worth $715,581,000 after purchasing an additional 1,846,436 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors.

Pfizer Stock Down 0.5%

Shares of PFE stock traded down $0.12 during trading on Friday, reaching $24.03. The company's stock had a trading volume of 86,201,583 shares, compared to its average volume of 42,502,152. The stock's 50-day moving average price is $24.63 and its 200 day moving average price is $24.20. The company has a market capitalization of $136.62 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 0.78 and a beta of 0.55. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.85. Pfizer Inc. has a 1-year low of $20.92 and a 1-year high of $30.43.

Pfizer (NYSE:PFE - Get Free Report) last released its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS for the quarter, topping 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 firm had revenue of $14.65 billion during the quarter, compared to analysts' expectations of $13.43 billion. During the same period in the previous year, the firm posted $0.60 EPS. Pfizer'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, 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. Stockholders of record on Friday, July 25th were issued a $0.43 dividend. The ex-dividend date was Friday, July 25th. This represents a $1.72 annualized dividend and a dividend yield of 7.2%. Pfizer's dividend payout ratio is presently 91.49%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PFE. Berenberg Bank dropped their target price on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a report on Thursday, May 29th. Bank of America lifted their price objective on shares of Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Morgan Stanley boosted their price target on Pfizer from $32.00 to $33.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Citigroup upped their price target on Pfizer from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Finally, Wall Street Zen upgraded shares of Pfizer from a "hold" rating to a "buy" rating in a report on Saturday. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus 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.