Patten & Patten Inc. TN Cuts Stock Holdings in Pfizer Inc. $PFE

Patten & Patten Inc. TN reduced its position in Pfizer Inc. (NYSE:PFE - Free Report) by 19.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 64,093 shares of the biopharmaceutical company's stock after selling 15,780 shares during the period. Patten & Patten Inc. TN's holdings in Pfizer were worth $1,554,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Pfizer by 0.9% in 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 buying an additional 4,629,976 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of 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 buying an additional 3,943,397 shares in the last quarter. Amundi boosted its holdings in shares of 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 buying an additional 15,758,846 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of 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 buying an additional 838,198 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Pfizer by 7.0% in the 1st quarter. Deutsche Bank AG now owns 28,239,197 shares of the biopharmaceutical company's stock valued at $715,581,000 after buying an additional 1,846,436 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Citigroup lifted their target price on shares of Pfizer from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Morgan Stanley lowered their target price on shares of Pfizer from $33.00 to $32.00 and set an "equal weight" rating for the company in a research note on Friday, October 10th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Pfizer in a research note on Wednesday, October 8th. UBS Group reiterated a "neutral" rating and issued a $28.00 target price on shares of Pfizer in a research note on Wednesday, October 1st. Finally, Wall Street Zen cut shares of Pfizer from a "buy" rating to a "hold" rating in a research note on Sunday, September 28th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Pfizer has an average rating of "Hold" and a consensus target price of $28.13.

Pfizer Stock Performance

Shares of NYSE PFE opened at $24.22 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $29.53. The company has a 50 day simple moving average of $24.89 and a two-hundred day simple moving average of $24.12. The stock has a market cap of $137.70 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 0.81 and a beta of 0.55.

Pfizer (NYSE:PFE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS 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 business 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 business posted $0.60 EPS. The business'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. As a group, analysts predict that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend is Friday, November 7th. Pfizer's payout ratio is presently 91.49%.

About Pfizer

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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