Pzena Investment Management LLC Sells 499,867 Shares of Pfizer Inc. $PFE

Key Points

• Pzena Investment Management LLC has reduced its stake in Pfizer Inc. by 7.1%, selling 499,867 shares and now holds approximately 6.56 million shares valued at $158.99 million.
• Analysts have mixed views on Pfizer, with Morgan Stanley lowering its price target from $33.00 to $32.00, while Citigroup raised its target from $25.00 to $26.00, reflecting differing ratings of "equal weight" and "neutral".
• Pfizer declared a quarterly dividend of $0.43 to be paid on December 1st, highlighting a significant annual yield of 6.9% and a payout ratio of 91.49%.

Pzena Investment Management LLC cut its stake in shares of Pfizer Inc. (NYSE:PFE - Free Report) by 7.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,559,114 shares of the biopharmaceutical company's stock after selling 499,867 shares during the quarter. Pzena Investment Management LLC owned approximately 0.12% of Pfizer worth $158,993,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. grew its stake in shares of Pfizer by 11.1% during the 1st quarter. Bessemer Group Inc. now owns 132,478 shares of the biopharmaceutical company's stock valued at $3,358,000 after acquiring an additional 13,228 shares during the period. Capital Advisors Inc. OK boosted its stake in Pfizer by 1.2% in the 1st quarter. Capital Advisors Inc. OK now owns 1,413,472 shares of the biopharmaceutical company's stock worth $35,817,000 after purchasing an additional 17,032 shares during the period. CHURCHILL MANAGEMENT Corp bought a new position in Pfizer in the 1st quarter worth approximately $8,283,000. Westbourne Investments Inc. bought a new position in Pfizer in the 1st quarter worth approximately $2,411,000. Finally, Bourne Lent Asset Management Inc. boosted its stake in Pfizer by 90.8% in the 2nd quarter. Bourne Lent Asset Management Inc. now owns 38,255 shares of the biopharmaceutical company's stock worth $927,000 after purchasing an additional 18,200 shares during the period. 68.36% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on PFE. Morgan Stanley dropped their price target on Pfizer from $33.00 to $32.00 and set an "equal weight" rating for the company in a research note on Friday. Citigroup upped their price target on Pfizer from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Wall Street Zen downgraded Pfizer from a "buy" rating to a "hold" rating in a research note on Sunday, September 28th. UBS Group restated a "neutral" rating and issued a $28.00 price target on shares of Pfizer in a research note on Wednesday, October 1st. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Pfizer in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Pfizer presently has a consensus rating of "Hold" and an average target price of $28.35.

Pfizer Stock Down 1.7%

NYSE PFE opened at $24.81 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.16. The company has a market capitalization of $141.03 billion, a P/E ratio of 13.19, a P/E/G ratio of 0.82 and a beta of 0.55. Pfizer Inc. has a one year low of $20.92 and a one year high of $29.82. The stock has a 50 day moving average price of $24.86 and a 200-day moving average price of $24.12.

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

Pfizer Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a $0.43 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.72 dividend on an annualized basis and a yield of 6.9%. Pfizer's dividend payout ratio (DPR) is currently 91.49%.

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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