Pfizer Inc. $PFE Shares Sold by QSM Asset Management Ltd

Key Points

• QSM Asset Management Ltd significantly reduced its stake in Pfizer by 54.6% during the second quarter, resulting in ownership of 183,844 shares valued at approximately $4.47 million.
• Pfizer reported better-than-expected earnings with an EPS of $0.78, exceeding estimates by $0.20, alongside a revenue of $14.65 billion, up 10.3% year-over-year.
• The company announced a quarterly dividend of $0.43, translating to an annualized yield of 7.2%, with a payout ratio currently at 91.49%.

QSM Asset Management Ltd lowered its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 54.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,844 shares of the biopharmaceutical company's stock after selling 220,958 shares during the quarter. Pfizer makes up approximately 4.1% of QSM Asset Management Ltd's holdings, making the stock its 13th largest position. QSM Asset Management Ltd's holdings in Pfizer were worth $4,466,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Eaton Financial Holdings Company LLC acquired a new position in Pfizer during the 2nd quarter valued at approximately $574,000. Kelly Financial Group LLC raised its stake in Pfizer by 5.8% during the 2nd quarter. Kelly Financial Group LLC now owns 18,398 shares of the biopharmaceutical company's stock valued at $446,000 after acquiring an additional 1,012 shares in the last quarter. Focused Wealth Management Inc raised its stake in Pfizer by 2.7% during the 2nd quarter. Focused Wealth Management Inc now owns 108,472 shares of the biopharmaceutical company's stock valued at $2,629,000 after acquiring an additional 2,862 shares in the last quarter. Kwmg LLC raised its stake in Pfizer by 9.4% during the 2nd quarter. Kwmg LLC now owns 198,030 shares of the biopharmaceutical company's stock valued at $4,800,000 after acquiring an additional 16,939 shares in the last quarter. Finally, Revisor Wealth Management LLC bought a new stake in Pfizer during the 2nd quarter valued at $439,000. Institutional investors and hedge funds own 68.36% of the company's stock.

Pfizer Trading Up 0.1%

Pfizer stock opened at $24.05 on Tuesday. The business has a 50 day moving average price of $24.61 and a two-hundred day moving average price of $24.18. 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 $136.74 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 0.78 and a beta of 0.55. Pfizer Inc. has a 12 month low of $20.92 and a 12 month high of $30.43.

Pfizer (NYSE:PFE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.58 by $0.20. The firm had revenue of $14.65 billion during the quarter, compared to analysts' expectations of $13.43 billion. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.The company's revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 EPS. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. As a group, equities analysts forecast that Pfizer Inc. will post 2.95 EPS for the current year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th were issued a $0.43 dividend. The ex-dividend date of this dividend was Friday, July 25th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 7.2%. Pfizer's dividend payout ratio is presently 91.49%.

Wall Street Analyst Weigh In

Several analysts have weighed in on PFE shares. Berenberg Bank cut their target price on Pfizer from $28.00 to $25.00 and set a "hold" rating on the stock in a research note on Thursday, May 29th. Citigroup raised their target price on Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Morgan Stanley raised their target price on Pfizer from $32.00 to $33.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Bank of America raised their target price on Pfizer from $27.00 to $28.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen raised Pfizer from a "hold" rating to a "buy" rating in a research note on Saturday. Two 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 assigned a Sell rating to the company. According to data from MarketBeat.com, Pfizer currently has an average rating of "Hold" and a consensus price target of $28.12.

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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