Promethium Advisors LLC Decreases Stake in Pfizer Inc. $PFE

Key Points

• Promethium Advisors LLC sold 29,162 shares of Pfizer Inc., reducing its stake by 22.0% to 103,095 shares, making it the firm's 18th largest holding.
• Several analysts have changed their price targets for Pfizer, with Jefferies and Morgan Stanley increasing their targets to $33.00, while HSBC lowered it to $26.00.
• Pfizer recently reported earnings of $0.78 EPS, exceeding expectations, with a quarterly revenue of $14.65 billion, a 10.3% increase year-over-year.

Promethium Advisors LLC reduced its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 22.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 103,095 shares of the biopharmaceutical company's stock after selling 29,162 shares during the period. Pfizer makes up about 1.7% of Promethium Advisors LLC's holdings, making the stock its 18th largest position. Promethium Advisors LLC's holdings in Pfizer were worth $2,612,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in PFE. Pacer Advisors Inc. increased its position in Pfizer by 856.8% during the 1st 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. Nuveen LLC bought a new position in Pfizer during the first quarter valued at about $389,861,000. Starboard Value LP acquired a new stake in Pfizer during the 4th quarter worth about $407,730,000. Goldman Sachs Group Inc. raised its stake in shares of Pfizer by 51.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,456,457 shares of the biopharmaceutical company's stock worth $670,407,000 after purchasing an additional 9,041,990 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Pfizer by 307.5% in 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. Institutional investors and hedge funds own 68.36% of the company's stock.

Pfizer Stock Down 0.9%

NYSE PFE traded down $0.23 during mid-day trading on Wednesday, reaching $24.76. The stock had a trading volume of 30,706,896 shares, compared to its average volume of 40,145,636. The stock has a market cap of $140.75 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 0.88 and a beta of 0.55. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.16 and a quick ratio of 0.85. The company has a fifty day moving average price of $24.83 and a 200 day moving average price of $24.37. Pfizer Inc. has a 1 year low of $20.92 and a 1 year high of $30.43.

Pfizer (NYSE:PFE - Get Free Report) last issued its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.20. The company had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $13.43 billion. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. Pfizer's quarterly revenue was up 10.3% compared to the same quarter last year. 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. On average, research analysts expect 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 was paid on Tuesday, September 2nd. Shareholders of record on Friday, July 25th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date was Friday, July 25th. Pfizer's dividend payout ratio is currently 91.49%.

Analyst Ratings Changes

A number of equities analysts have commented on PFE shares. Morgan Stanley boosted their price objective on Pfizer from $32.00 to $33.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Citigroup boosted their price target on Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, August 6th. Berenberg Bank lowered their price target on Pfizer from $28.00 to $25.00 and set a "hold" rating for the company in a report on Thursday, May 29th. Jefferies Financial Group upped their price target on Pfizer from $32.00 to $33.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Finally, Bank of America increased their target price on Pfizer from $27.00 to $28.00 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average 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.