Pfizer Inc. $PFE Shares Sold by Northeast Investment Management

Key Points

• Northeast Investment Management reduced its stake in Pfizer Inc. by 18.9%, now holding 44,651 shares worth approximately $1,082,000 after selling 10,406 shares in the second quarter.
• Pfizer reported a quarterly earnings of $0.78 per share, surpassing analysts' estimates of $0.58, with revenues of $14.65 billion, up 10.3% year-over-year.
• The company declared a quarterly dividend of $0.43 per share, representing a 7.0% yield, with the ex-dividend date set for November 7th.

Northeast Investment Management decreased its position in Pfizer Inc. (NYSE:PFE - Free Report) by 18.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,651 shares of the biopharmaceutical company's stock after selling 10,406 shares during the quarter. Northeast Investment Management's holdings in Pfizer were worth $1,082,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. GKV Capital Management Co. Inc. acquired a new position in Pfizer in the first quarter valued at approximately $27,000. Bayforest Capital Ltd acquired a new position in shares of Pfizer in the 1st quarter valued at $28,000. North Capital Inc. purchased a new position in shares of Pfizer in the 1st quarter valued at $28,000. Harbor Asset Planning Inc. acquired a new stake in Pfizer during the 2nd quarter worth $29,000. Finally, WPG Advisers LLC purchased a new stake in Pfizer in the first quarter valued at $35,000. Institutional investors and hedge funds own 68.36% of the company's stock.

Pfizer Stock Up 1.2%

Shares of NYSE:PFE opened at $24.52 on Friday. The stock has a market cap of $139.38 billion, a P/E ratio of 13.04, a P/E/G ratio of 0.81 and a beta of 0.55. The firm has a fifty day moving average price of $24.89 and a 200 day moving average price of $24.11. 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 $29.36.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.20. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The firm had revenue of $14.65 billion during the quarter, compared to analysts' expectations of $13.43 billion. During the same quarter in the prior year, the business earned $0.60 EPS. Pfizer'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. Sell-side analysts predict that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

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 dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.72 annualized dividend and a dividend yield of 7.0%. Pfizer's dividend payout ratio (DPR) is currently 91.49%.

Analyst Ratings Changes

PFE has been the topic of several research reports. Citigroup raised their price objective on Pfizer from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Bank of America raised their price target on Pfizer from $28.00 to $30.00 and gave the stock a "neutral" rating in a research note on Friday, October 3rd. Morgan Stanley cut their price target on Pfizer from $33.00 to $32.00 and set an "equal weight" rating on the stock in a research report on Friday, October 10th. Weiss Ratings reissued a "hold (c-)" rating on shares of Pfizer in a report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Pfizer from a "buy" rating to a "hold" rating in a report on Sunday, September 28th. Two research 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 given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $28.13.

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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