Prudential PLC Has $14.92 Million Holdings in Pfizer Inc. (NYSE:PFE)

Key Points

• Prudential PLC increased its stake in Pfizer Inc. by 12.1%, owning 588,676 shares worth approximately $14.9 million after acquiring an additional 63,359 shares.
• Several brokerages have recently adjusted their ratings for Pfizer, with a consensus rating of "Hold" and a price target of $28.12.
• Pfizer announced a quarterly dividend of $0.43 per share, resulting in a 7.0% dividend yield and indicating a payout ratio of approximately 91.49%.

Prudential PLC grew its stake in Pfizer Inc. (NYSE:PFE - Free Report) by 12.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 588,676 shares of the biopharmaceutical company's stock after acquiring an additional 63,359 shares during the period. Prudential PLC's holdings in Pfizer were worth $14,917,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. raised its stake in shares of Pfizer by 11.1% in the first quarter. Bessemer Group Inc. now owns 132,478 shares of the biopharmaceutical company's stock worth $3,358,000 after acquiring an additional 13,228 shares during the last quarter. Capital Advisors Inc. OK raised its stake in shares of Pfizer by 1.2% in the first quarter. Capital Advisors Inc. OK now owns 1,413,472 shares of the biopharmaceutical company's stock worth $35,817,000 after acquiring an additional 17,032 shares during the last quarter. CHURCHILL MANAGEMENT Corp bought a new position in shares of Pfizer in the first quarter worth about $8,283,000. Alta Advisers Ltd boosted its stake in Pfizer by 69.6% during the 1st quarter. Alta Advisers Ltd now owns 31,912 shares of the biopharmaceutical company's stock worth $809,000 after acquiring an additional 13,100 shares during the last quarter. Finally, WCM Investment Management LLC boosted its stake in Pfizer by 8.7% during the 1st quarter. WCM Investment Management LLC now owns 125,964 shares of the biopharmaceutical company's stock worth $3,176,000 after acquiring an additional 10,051 shares during the last quarter. 68.36% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Leerink Partners reduced their price objective on shares of Pfizer from $28.00 to $26.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 30th. Jefferies Financial Group lifted their price objective on shares of Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Redburn Atlantic reduced their price objective on shares of Pfizer from $29.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. 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 research note on Wednesday, August 6th. Finally, TD Cowen reduced their price objective on shares of Pfizer from $32.00 to $28.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Pfizer has a consensus rating of "Hold" and an average price target of $28.12.

Pfizer Stock Up 0.2%

Shares of PFE traded up $0.06 during mid-day trading on Tuesday, hitting $24.64. 34,400,469 shares of the company's stock were exchanged, compared to its average volume of 47,175,628. The company has a market cap of $140.06 billion, a PE ratio of 13.10, a P/E/G ratio of 0.88 and a beta of 0.52. Pfizer Inc. has a 52 week low of $20.92 and a 52 week high of $30.43. The company has a 50-day simple moving average of $24.49 and a 200 day simple moving average of $24.47. 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 (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 the consensus estimate of $0.58 by $0.20. The company had revenue of $14.65 billion during the quarter, compared to analysts' expectations of $13.43 billion. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The business's quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the business earned $0.60 EPS. On average, research analysts forecast that Pfizer Inc. will post 2.95 earnings per share for the current fiscal year.

Pfizer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, July 25th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend is Friday, July 25th. Pfizer's dividend payout ratio (DPR) is currently 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.