Glenview Trust co Boosts Stock Position in Pfizer Inc. $PFE

Key Points

• Glenview Trust Co increased its stake in Pfizer Inc. by 17.4%, now owning 493,600 shares valued at approximately $12.5 million.
• Pfizer reported a 10.3% increase in revenue year-over-year, with earnings per share topping estimates at $0.78 for the previous quarter.
• The company also announced a quarterly dividend of $0.43, yielding 7.0%, indicating strong cash flow and shareholder returns.

Glenview Trust co increased its holdings in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 17.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 493,600 shares of the biopharmaceutical company's stock after purchasing an additional 73,070 shares during the period. Glenview Trust co's holdings in Pfizer were worth $12,508,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Pacer Advisors Inc. increased its stake in Pfizer by 856.8% in the 1st quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company's stock valued at $508,164,000 after buying an additional 17,957,928 shares during the period. Amundi increased its stake 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 buying an additional 15,758,846 shares during the period. Nuveen LLC purchased a new position in Pfizer in the first quarter worth $389,861,000. Starboard Value LP acquired a new stake in Pfizer in the fourth quarter valued at $407,730,000. Finally, Goldman Sachs Group Inc. lifted its holdings in Pfizer by 51.9% in the first quarter. Goldman Sachs Group Inc. now owns 26,456,457 shares of the biopharmaceutical company's stock valued at $670,407,000 after acquiring an additional 9,041,990 shares during the period. Institutional investors and hedge funds own 68.36% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on PFE. Jefferies Financial Group raised their target price on Pfizer from $32.00 to $33.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Berenberg Bank reduced their target price on Pfizer from $28.00 to $25.00 and set a "hold" rating for the company in a report on Thursday, May 29th. 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. HSBC reduced their target price on Pfizer from $27.00 to $26.00 and set a "buy" rating for the company in a report on Monday, May 19th. Finally, Citigroup upped 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. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $28.12.

Pfizer Trading Up 1.1%

Shares of PFE stock traded up $0.27 during mid-day trading on Thursday, hitting $24.84. 36,770,116 shares of the company's stock were exchanged, compared to its average volume of 34,782,688. Pfizer Inc. has a fifty-two week low of $20.92 and a fifty-two week high of $30.43. The stock has a 50-day simple moving average of $24.82 and a two-hundred day simple moving average of $24.32. The company has a quick ratio of 0.85, a current ratio of 1.16 and a debt-to-equity ratio of 0.65. The stock has a market cap of $141.23 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 0.87 and a beta of 0.55.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.The company's revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. Equities analysts expect that Pfizer Inc. will post 2.95 EPS for the current fiscal year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, July 25th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend was Friday, July 25th. Pfizer's dividend payout ratio (DPR) is presently 91.49%.

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.