Pfizer Inc. $PFE Stake Lessened by Bartlett & CO. Wealth Management LLC

Key Points

• Bartlett & CO. Wealth Management LLC reduced its stake in Pfizer Inc. by 12.6%, owning a total of 123,665 shares valued at approximately $2.998 million after selling 17,810 shares in the second quarter.
• Several hedge funds significantly increased their stakes in Pfizer during the first quarter, with Pacer Advisors Inc. growing its investment by 856.8%, and Amundi raising its holdings by 43.4%.
• Pfizer's recent earnings report showed earnings per share of $0.78, exceeding the analysts' estimates of $0.58, with revenues reaching $14.65 billion.

Bartlett & CO. Wealth Management LLC cut its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 12.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,665 shares of the biopharmaceutical company's stock after selling 17,810 shares during the period. Bartlett & CO. Wealth Management LLC's holdings in Pfizer were worth $2,998,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its stake in Pfizer by 856.8% in the first quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company's stock worth $508,164,000 after purchasing an additional 17,957,928 shares in the last quarter. Amundi lifted its holdings in Pfizer by 43.4% during the 1st quarter. Amundi now owns 52,090,403 shares of the biopharmaceutical company's stock worth $1,265,277,000 after buying an additional 15,758,846 shares during the last quarter. Nuveen LLC acquired a new position in shares of Pfizer in the 1st quarter worth approximately $389,861,000. Goldman Sachs Group Inc. increased its holdings in shares of Pfizer by 51.9% in the 1st 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 last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Pfizer by 307.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 10,046,340 shares of the biopharmaceutical company's stock valued at $254,574,000 after acquiring an additional 7,581,030 shares in the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on PFE shares. Morgan Stanley lifted 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. Wall Street Zen downgraded shares of Pfizer from a "buy" rating to a "hold" rating in a research report on Sunday. Citigroup lifted their price target on shares of Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. UBS Group reiterated a "neutral" rating and set a $28.00 price objective on shares of Pfizer in a research note on Wednesday. Finally, Bank of America lifted 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. Two equities 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $28.29.

Pfizer Trading Up 6.8%

Pfizer stock opened at $27.21 on Thursday. Pfizer Inc. has a 52-week low of $20.92 and a 52-week high of $30.43. 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 firm has a market capitalization of $154.68 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 0.82 and a beta of 0.55. The firm has a 50-day moving average price of $24.59 and a two-hundred day moving average price of $24.14.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.20. The company had revenue of $14.65 billion for 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 business's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. Sell-side analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

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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