Parsons Capital Management Inc. RI Sells 105,096 Shares of Pfizer Inc. $PFE

Key Points

• Parsons Capital Management Inc. RI reduced its stake in Pfizer by 40.7% during the second quarter, selling 105,096 shares and now holding 152,855 shares valued at approximately $3.7 million.
• Analysts have mixed opinions on Pfizer, with target prices ranging from $25.00 to $33.00 and a consensus rating of "Hold" with a target price of $28.29.
• Pfizer reported strong quarterly earnings, achieving $0.78 EPS which exceeded analysts' expectations by $0.20, and had revenue of $14.65 billion for the quarter.

Parsons Capital Management Inc. RI cut its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 40.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 152,855 shares of the biopharmaceutical company's stock after selling 105,096 shares during the period. Parsons Capital Management Inc. RI's holdings in Pfizer were worth $3,705,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. lifted its holdings in shares of Pfizer by 11.1% in the first quarter. Bessemer Group Inc. now owns 132,478 shares of the biopharmaceutical company's stock valued at $3,358,000 after purchasing an additional 13,228 shares in the last quarter. Capital Advisors Inc. OK increased its position in shares of Pfizer by 1.2% in the first quarter. Capital Advisors Inc. OK now owns 1,413,472 shares of the biopharmaceutical company's stock valued at $35,817,000 after acquiring an additional 17,032 shares during the last quarter. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Pfizer in the first quarter valued at about $8,283,000. Westbourne Investments Inc. acquired a new stake in shares of Pfizer in the first quarter valued at about $2,411,000. Finally, Bourne Lent Asset Management Inc. increased its position in shares of Pfizer by 90.8% in the second quarter. Bourne Lent Asset Management Inc. now owns 38,255 shares of the biopharmaceutical company's stock valued at $927,000 after acquiring an additional 18,200 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PFE shares. Citigroup lifted their target price on Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. UBS Group reaffirmed a "neutral" rating and issued a $28.00 target price on shares of Pfizer in a research report on Wednesday. Wall Street Zen downgraded Pfizer from a "buy" rating to a "hold" rating in a research report on Sunday. Morgan Stanley lifted their target price on Pfizer from $32.00 to $33.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Finally, Bank of America boosted their price target on Pfizer from $27.00 to $28.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $28.29.

Pfizer Price Performance

Shares of NYSE PFE opened at $27.21 on Thursday. The business's 50 day moving average price is $24.59 and its two-hundred day moving average price is $24.14. The company has a market cap of $154.68 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 0.82 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 twelve month low of $20.92 and a twelve month high of $30.43.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $13.43 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The business's revenue 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, analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

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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