Pfizer Inc. $PFE Shares Purchased by Old North State Wealth Management LLC

Key Points

• Old North State Wealth Management LLC increased its stake in Pfizer Inc. by 14.1%, now holding 100,720 shares worth approximately $2.44 million, making Pfizer the 29th largest holding in its portfolio.
• Pfizer's quarterly earnings exceeded expectations, reporting $0.78 earnings per share against a consensus estimate of $0.58, contributing to a revenue increase of 10.3% year-over-year.
• Analysts have mixed ratings on Pfizer, with two upgrades to a "Strong Buy" rating, while Bank of America set a new price target of $28.00 which is an increase from the previous target of $27.00.

Old North State Wealth Management LLC lifted its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 14.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 100,720 shares of the biopharmaceutical company's stock after purchasing an additional 12,467 shares during the period. Pfizer comprises about 1.3% of Old North State Wealth Management LLC's investment portfolio, making the stock its 29th biggest holding. Old North State Wealth Management LLC's holdings in Pfizer were worth $2,443,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PFE. Bessemer Group Inc. grew its holdings in shares of Pfizer by 11.1% during 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 during the last quarter. Capital Advisors Inc. OK raised its stake in shares of Pfizer by 1.2% during 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 purchasing an additional 17,032 shares in the last quarter. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Pfizer in the 1st quarter worth approximately $8,283,000. Westbourne Investments Inc. acquired a new position in shares of Pfizer during the 1st quarter valued at $2,411,000. Finally, Bourne Lent Asset Management Inc. raised its position in Pfizer by 90.8% in the second quarter. Bourne Lent Asset Management Inc. now owns 38,255 shares of the biopharmaceutical company's stock worth $927,000 after acquiring an additional 18,200 shares in the last quarter. Institutional investors own 68.36% of the company's stock.

Pfizer Trading Down 2.0%

Shares of PFE stock opened at $23.61 on Friday. The stock has a market cap of $134.25 billion, a price-to-earnings ratio of 12.56, 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 quick ratio of 0.85 and a current ratio of 1.16. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $30.43. The firm has a fifty day moving average of $24.57 and a 200-day moving average of $24.16.

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. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.The company had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. During the same period in the prior year, the company posted $0.60 EPS. The company's 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. On average, equities research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PFE has been the subject of a number of recent research reports. Bank of America increased their price objective on Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Berenberg Bank dropped their price objective on shares of Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a research note on Thursday, May 29th. Wall Street Zen upgraded Pfizer from a "hold" rating to a "buy" rating in a report on Saturday, September 20th. Morgan Stanley upped their price objective on shares of Pfizer from $32.00 to $33.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Finally, Citigroup increased their price target on Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a 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 given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Pfizer presently has a consensus rating of "Hold" and an average target price of $28.12.

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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