Principle Wealth Partners LLC Trims Holdings in Pfizer Inc. $PFE

Key Points

• Principle Wealth Partners LLC reduced its holdings in Pfizer Inc. by 5.9%, bringing their total shares to 163,543 with a value of approximately $3.96 million.
• Analysts have adjusted their target prices for Pfizer, with Morgan Stanley lowering theirs from $33.00 to $32.00, while Citigroup increased theirs from $25.00 to $26.00.
• Pfizer will pay a quarterly dividend of $0.43 per share on December 1st, offering an annual yield of 7.0%.

Principle Wealth Partners LLC decreased its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 5.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 163,543 shares of the biopharmaceutical company's stock after selling 10,333 shares during the quarter. Principle Wealth Partners LLC's holdings in Pfizer were worth $3,964,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PFE. Brighton Jones LLC lifted its position in Pfizer by 1,282.4% during the fourth quarter. Brighton Jones LLC now owns 666,318 shares of the biopharmaceutical company's stock worth $17,677,000 after buying an additional 618,117 shares in the last quarter. Revolve Wealth Partners LLC raised its position in Pfizer by 12.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 18,766 shares of the biopharmaceutical company's stock valued at $498,000 after purchasing an additional 2,087 shares during the period. GAMMA Investing LLC raised its position in Pfizer by 69.0% in the first quarter. GAMMA Investing LLC now owns 63,131 shares of the biopharmaceutical company's stock valued at $1,600,000 after purchasing an additional 25,785 shares during the period. GHP Investment Advisors Inc. raised its position in Pfizer by 12.6% in the first quarter. GHP Investment Advisors Inc. now owns 13,523 shares of the biopharmaceutical company's stock valued at $343,000 after purchasing an additional 1,517 shares during the period. Finally, Horizon Bancorp Inc. IN raised its position in Pfizer by 1.0% in the first quarter. Horizon Bancorp Inc. IN now owns 69,047 shares of the biopharmaceutical company's stock valued at $1,750,000 after purchasing an additional 664 shares during the period. Hedge funds and other institutional investors own 68.36% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on PFE shares. Morgan Stanley reduced their target price 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. UBS Group restated a "neutral" rating and issued a $28.00 target price on shares of Pfizer in a research report on Wednesday, October 1st. Citigroup lifted their target price on Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Bank of America lifted their target price on Pfizer from $28.00 to $30.00 and gave the company a "neutral" rating in a research report on Friday, October 3rd. Finally, Wall Street Zen cut Pfizer from a "buy" rating to a "hold" rating in a research note on Sunday, September 28th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Pfizer presently has a consensus rating of "Hold" and an average target price of $28.13.

Pfizer Trading Down 0.5%

Shares of NYSE PFE opened at $24.72 on Thursday. Pfizer Inc. has a twelve month low of $20.92 and a twelve month high of $29.17. The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The stock has a fifty day simple moving average of $24.88 and a 200-day simple moving average of $24.13. The stock has a market capitalization of $140.52 billion, a PE ratio of 13.15, a PEG ratio of 0.82 and a beta of 0.55.

Pfizer (NYSE:PFE - Get Free Report) last issued its quarterly earnings data 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. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.The business had revenue of $14.65 billion during the quarter, compared to analysts' expectations of $13.43 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. The company's revenue was up 10.3% on a year-over-year basis. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. On average, equities analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current year.

Pfizer Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend is Friday, November 7th. Pfizer's payout ratio 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.

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